Prosperity Wealth Management Inc. Sells 16,961 Shares of Invesco QQQ (NASDAQ:QQQ)

Prosperity Wealth Management Inc. lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 44.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,052 shares of the exchange traded fund's stock after selling 16,961 shares during the period. Invesco QQQ accounts for 4.6% of Prosperity Wealth Management Inc.'s holdings, making the stock its 4th biggest holding. Prosperity Wealth Management Inc.'s holdings in Invesco QQQ were worth $9,872,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QQQ. Proficio Capital Partners LLC raised its stake in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after buying an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Invesco QQQ by 20.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund's stock worth $2,300,993,000 after buying an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund's stock worth $1,593,354,000 after buying an additional 27,115 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Invesco QQQ by 2.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund's stock worth $1,239,886,000 after buying an additional 52,235 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund's stock worth $1,124,614,000 after buying an additional 568,120 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $529.08 on Wednesday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The firm has a fifty day simple moving average of $496.20 and a 200 day simple moving average of $503.08.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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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