Robertson Stephens Wealth Management LLC Decreases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Robertson Stephens Wealth Management LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,340 shares of the exchange traded fund's stock after selling 540 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Invesco QQQ were worth $17,536,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ in the 4th quarter worth $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Invesco QQQ in the 4th quarter worth $36,000. Midwest Capital Advisors LLC purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $51,000. Banque Transatlantique SA purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $57,000. Finally, Perritt Capital Management Inc purchased a new position in shares of Invesco QQQ in the fourth quarter worth about $61,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.4%

QQQ opened at $534.29 on Tuesday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The firm has a market capitalization of $334.81 billion, a PE ratio of 32.66 and a beta of 1.11. The firm has a 50 day moving average of $494.94 and a two-hundred day moving average of $502.90.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued 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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