Sun Life Financial Inc. Sells 1,070 Shares of Invesco QQQ (NASDAQ:QQQ)

Sun Life Financial Inc. decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 162,840 shares of the exchange traded fund's stock after selling 1,070 shares during the quarter. Invesco QQQ accounts for about 4.8% of Sun Life Financial Inc.'s holdings, making the stock its 6th biggest holding. Sun Life Financial Inc.'s holdings in Invesco QQQ were worth $76,359,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Wilkins Miller Wealth Management LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $1,018,000. Gemsstock Ltd. lifted its position in Invesco QQQ by 266.4% in the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after acquiring an additional 213,400 shares during the last quarter. Tandem Investment Partners LLC acquired a new position in Invesco QQQ in the fourth quarter valued at $4,623,000. Wescott Financial Advisory Group LLC grew its holdings in shares of Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Sentinus LLC increased its position in shares of Invesco QQQ by 17.6% during the fourth quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund's stock worth $3,307,000 after purchasing an additional 970 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $553.88 on Friday. The business has a 50-day moving average price of $544.01 and a 200 day moving average price of $510.73. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $574.63.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

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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