Park Edge Advisors LLC Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Park Edge Advisors LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 63.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 688 shares of the exchange traded fund's stock after selling 1,180 shares during the period. Park Edge Advisors LLC's holdings in Invesco QQQ were worth $323,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Key Client Fiduciary Advisors LLC increased its stake in shares of Invesco QQQ by 8.4% in the first quarter. Key Client Fiduciary Advisors LLC now owns 8,957 shares of the exchange traded fund's stock worth $4,200,000 after acquiring an additional 692 shares during the period. Leverty Financial Group LLC raised its position in Invesco QQQ by 10.7% during the first quarter. Leverty Financial Group LLC now owns 457 shares of the exchange traded fund's stock worth $214,000 after acquiring an additional 44 shares during the period. Veracity Capital LLC lifted its stake in Invesco QQQ by 8.6% in the 1st quarter. Veracity Capital LLC now owns 1,459 shares of the exchange traded fund's stock valued at $684,000 after buying an additional 116 shares in the last quarter. Granite Bay Wealth Management LLC increased its position in shares of Invesco QQQ by 13.9% during the first quarter. Granite Bay Wealth Management LLC now owns 17,557 shares of the exchange traded fund's stock worth $8,233,000 after purchasing an additional 2,149 shares in the last quarter. Finally, Teamwork Financial Advisors LLC raised its position in shares of Invesco QQQ by 129.2% in the first quarter. Teamwork Financial Advisors LLC now owns 2,168 shares of the exchange traded fund's stock valued at $1,017,000 after buying an additional 1,222 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock traded down $3.98 during trading on Thursday, reaching $524.79. 60,873,940 shares of the company were exchanged, compared to its average volume of 37,913,928. The stock's 50 day simple moving average is $480.94 and its two-hundred day simple moving average is $501.53. The company has a market capitalization of $337.36 billion, a P/E ratio of 32.66 and a beta of 1.18. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

Invesco QQQ Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.