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

Park Square Financial Group LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,910 shares of the exchange traded fund's stock after selling 862 shares during the quarter. Invesco QQQ makes up about 1.5% of Park Square Financial Group LLC's investment portfolio, making the stock its 16th biggest position. Park Square Financial Group LLC's holdings in Invesco QQQ were worth $1,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. NWI Management LP grew its position in Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after acquiring an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC raised its stake in Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Senator Investment Group LP bought a new position in Invesco QQQ in the fourth quarter worth approximately $679,936,000. Spear Holdings RSC Ltd purchased a new position in Invesco QQQ in the first quarter worth $474,600,000. Finally, Asset Planning Services Inc. LA ADV grew its holdings in Invesco QQQ by 100,517.9% in the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund's stock worth $437,375,000 after purchasing an additional 931,801 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ traded down $1.25 on Friday, hitting $554.20. The stock had a trading volume of 39,558,757 shares, compared to its average volume of 39,410,558. The business's fifty day moving average price is $525.75 and its 200 day moving average price is $505.74. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $557.63.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 23rd.

Invesco QQQ Company 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.