Ridgepath Capital Management LLC Decreases Stake in Invesco QQQ $QQQ

Key Points

• Ridgepath Capital Management LLC significantly reduced its holdings in Invesco QQQ by 94.7%, selling over 17,000 shares and retaining just 960 shares, valued at approximately $450,000.
• Goldman Sachs Group Inc. increased its stake in Invesco QQQ by an astonishing 959.6%, acquiring over 21 million additional shares in the first quarter.
• Invesco QQQ's recent quarterly dividend was cut to $0.5911 per share, resulting in an annualized dividend of $2.36 and a yield of 0.4%.

Ridgepath Capital Management LLC decreased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 94.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 960 shares of the exchange traded fund's stock after selling 17,204 shares during the quarter. Ridgepath Capital Management LLC's holdings in Invesco QQQ were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilkins Miller Wealth Management LLC acquired a new position in Invesco QQQ in the 4th quarter valued at about $1,018,000. Sentinus LLC raised its stake in Invesco QQQ by 17.6% in the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock valued at $3,307,000 after purchasing an additional 970 shares during the last quarter. Sendero Wealth Management LLC acquired a new position in Invesco QQQ in the 1st quarter valued at about $273,000. Griffith & Werner Inc. acquired a new position in Invesco QQQ in the 4th quarter valued at about $583,000. Finally, GSG Advisors LLC raised its stake in Invesco QQQ by 8.2% in the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock valued at $3,600,000 after purchasing an additional 585 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 0.4%

QQQ stock traded up $2.58 during trading on Friday, hitting $586.66. The stock had a trading volume of 50,702,733 shares, compared to its average volume of 46,804,284. The company's 50 day moving average price is $568.24 and its two-hundred day moving average price is $520.54. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $587.86.

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 paid a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis 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.