Soundwatch Capital LLC Sells 6,649 Shares of Invesco QQQ (NASDAQ:QQQ)

Soundwatch Capital LLC reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 78.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,799 shares of the exchange traded fund's stock after selling 6,649 shares during the period. Invesco QQQ makes up about 0.4% of Soundwatch Capital LLC's investment portfolio, making the stock its 12th biggest position. Soundwatch Capital LLC's holdings in Invesco QQQ were worth $844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlueChip Wealth Advisors LLC increased its holdings in shares of Invesco QQQ by 3.6% in the first quarter. BlueChip Wealth Advisors LLC now owns 12,255 shares of the exchange traded fund's stock worth $5,747,000 after purchasing an additional 427 shares during the last quarter. Milestone Asset Management Group LLC increased its stake in Invesco QQQ by 2.8% during the first quarter. Milestone Asset Management Group LLC now owns 11,943 shares of the exchange traded fund's stock worth $5,600,000 after acquiring an additional 328 shares during the last quarter. Summit Asset Management LLC increased its stake in Invesco QQQ by 1.2% during the first quarter. Summit Asset Management LLC now owns 3,773 shares of the exchange traded fund's stock worth $1,769,000 after acquiring an additional 45 shares during the last quarter. Johns Hopkins University bought a new stake in Invesco QQQ during the first quarter worth approximately $99,121,000. Finally, Financial Partners Group Inc increased its stake in Invesco QQQ by 1.3% during the first quarter. Financial Partners Group Inc now owns 10,969 shares of the exchange traded fund's stock worth $5,144,000 after acquiring an additional 138 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.7%

Shares of NASDAQ:QQQ traded down $4.14 during trading hours on Tuesday, hitting $560.03. 22,553,265 shares of the company's stock traded hands, compared to its average volume of 39,434,112. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $566.06. The business has a fifty day moving average price of $534.38 and a 200-day moving average price of $507.13.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%.

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.

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