Summit Global Investments Sells 19,775 Shares of Invesco QQQ (NASDAQ:QQQ)

Summit Global Investments decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 86.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,986 shares of the exchange traded fund's stock after selling 19,775 shares during the period. Summit Global Investments' holdings in Invesco QQQ were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. PayPay Securities Corp boosted its holdings 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 during the period. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ in the fourth quarter worth about $36,000. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $37,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $51,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.6%

NASDAQ QQQ traded down $3.24 during trading hours on Friday, reaching $516.69. The company's stock had a trading volume of 67,585,697 shares, compared to its average volume of 37,676,372. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81. The company has a market capitalization of $323.78 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The firm's 50-day moving average price is $478.06 and its 200-day moving average price is $501.02.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.