Rialto Wealth Management LLC Sells 737 Shares of Invesco QQQ (NASDAQ:QQQ)

Rialto Wealth Management LLC cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 26.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,086 shares of the exchange traded fund's stock after selling 737 shares during the quarter. Rialto Wealth Management LLC's holdings in Invesco QQQ were worth $978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. PayPay Securities Corp lifted its position in Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after buying an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ during the 4th quarter worth about $36,000. Roxbury Financial LLC acquired a new position in shares of Invesco QQQ during the 4th quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $51,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.3%

QQQ traded up $1.47 during trading on Wednesday, hitting $528.77. The stock had a trading volume of 41,230,680 shares, compared to its average volume of 37,764,099. The company has a 50 day simple moving average of $479.75 and a 200-day simple moving average of $501.34. The firm has a market cap of $339.92 billion, a PE ratio of 32.66 and a beta of 1.18. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date was Monday, March 24th.

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.