Park Square Financial Group LLC Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Park Square Financial Group LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,910 shares of the exchange traded fund's stock after selling 862 shares during the period. Invesco QQQ makes up about 1.5% of Park Square Financial Group LLC's investment portfolio, making the stock its 16th largest holding. Park Square Financial Group LLC's holdings in Invesco QQQ were worth $1,833,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in QQQ. Gateway Wealth Partners LLC lifted its stake in shares of Invesco QQQ by 8.9% in the first quarter. Gateway Wealth Partners LLC now owns 8,016 shares of the exchange traded fund's stock worth $3,759,000 after buying an additional 657 shares in the last quarter. Freedom Day Solutions LLC increased its position in shares of Invesco QQQ by 11.6% during the first quarter. Freedom Day Solutions LLC now owns 940 shares of the exchange traded fund's stock valued at $441,000 after acquiring an additional 98 shares in the last quarter. Rik Saylor Financial Inc. raised its holdings in Invesco QQQ by 3.9% in the 1st quarter. Rik Saylor Financial Inc. now owns 13,717 shares of the exchange traded fund's stock worth $6,432,000 after acquiring an additional 516 shares during the last quarter. New England Professional Planning Group Inc. bought a new position in Invesco QQQ in the 1st quarter valued at approximately $385,000. Finally, Fonville Wealth Management LLC bought a new position in Invesco QQQ in the 1st quarter valued at approximately $257,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $555.45 on Friday. The stock has a fifty day simple moving average of $525.75 and a two-hundred day simple moving average of $505.74. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $557.63.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.43%.

About Invesco QQQ

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.

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