Peak Financial Management Inc. Sells 569 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• Peak Financial Management Inc. reduced its holdings in Invesco QQQ by 36.1% in Q1, selling 569 shares and owning 1,005 shares worth approximately $471,000.
• Institutional investors collectively own 44.58% of Invesco QQQ, with several firms increasing their stakes in the fourth quarter.
• Invesco QQQ's stock opened at $574.55, with a twelve-month high of $574.77 and a low of $402.39.

Peak Financial Management Inc. cut its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 36.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,005 shares of the exchange traded fund's stock after selling 569 shares during the period. Peak Financial Management Inc.'s holdings in Invesco QQQ were worth $471,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Eagle Capital Management LLC boosted its holdings in shares of Invesco QQQ by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after acquiring an additional 185 shares during the period. Brighton Jones LLC raised its position in shares of Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Invesco QQQ by 25.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,869 shares of the exchange traded fund's stock worth $1,467,000 after buying an additional 573 shares in the last quarter. Finally, Petros Family Wealth LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at about $213,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $574.55 on Monday. The stock's 50-day simple moving average is $549.00 and its two-hundred day simple moving average is $512.09. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.77.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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.

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