PGIM Custom Harvest LLC Has $28.51 Million Stock Position in Invesco QQQ $QQQ

Key Points

• PGIM Custom Harvest LLC recently reduced its stake in Invesco QQQ by 5.3%, holding a total of 60,793 shares, valued at approximately $28.51 million.
• Invesco QQQ's stock price opened at $569.28 and has a 12-month trading range between $402.39 and $583.32.
• Institutional investors currently hold 44.58% of Invesco QQQ's shares, indicating significant institutional interest in the ETF.

PGIM Custom Harvest LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,793 shares of the exchange traded fund's stock after selling 3,408 shares during the quarter. Invesco QQQ accounts for about 0.7% of PGIM Custom Harvest LLC's investment portfolio, making the stock its 29th largest holding. PGIM Custom Harvest LLC's holdings in Invesco QQQ were worth $28,507,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Eagle Capital Management LLC increased its position in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after buying an additional 185 shares during the period. Brighton Jones LLC grew its holdings in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after purchasing an additional 176 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Invesco QQQ during the fourth quarter worth $610,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Invesco QQQ by 11.9% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,369 shares of the exchange traded fund's stock valued at $1,722,000 after acquiring an additional 358 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.4%

Shares of QQQ opened at $569.28 on Wednesday. The stock's fifty day simple moving average is $555.76 and its 200-day simple moving average is $514.82. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $583.32.

Invesco QQQ Cuts Dividend

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

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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