Tennessee Valley Asset Management Partners Sells 536 Shares of Invesco QQQ (NASDAQ:QQQ)

Tennessee Valley Asset Management Partners decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,280 shares of the exchange traded fund's stock after selling 536 shares during the quarter. Invesco QQQ makes up 1.5% of Tennessee Valley Asset Management Partners' holdings, making the stock its 12th biggest position. Tennessee Valley Asset Management Partners' holdings in Invesco QQQ were worth $9,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its position in shares of Invesco QQQ by 32.8% in the first quarter. Rakuten Securities Inc. now owns 9,121 shares of the exchange traded fund's stock valued at $4,277,000 after purchasing an additional 2,255 shares during the last quarter. Insigneo Advisory Services LLC lifted its holdings in Invesco QQQ by 15.5% during the 1st quarter. Insigneo Advisory Services LLC now owns 36,485 shares of the exchange traded fund's stock worth $17,109,000 after purchasing an additional 4,908 shares during the last quarter. Pacific Capital Wealth Advisors Inc. boosted its stake in Invesco QQQ by 3.7% in the 1st quarter. Pacific Capital Wealth Advisors Inc. now owns 73,802 shares of the exchange traded fund's stock valued at $34,607,000 after purchasing an additional 2,612 shares during the period. Edge Financial Advisors LLC grew its holdings in Invesco QQQ by 11.4% in the 1st quarter. Edge Financial Advisors LLC now owns 4,967 shares of the exchange traded fund's stock valued at $2,329,000 after buying an additional 508 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC increased its position in Invesco QQQ by 1.2% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 2,489 shares of the exchange traded fund's stock worth $1,167,000 after buying an additional 30 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $534.29 on Tuesday. The stock has a fifty day moving average of $494.94 and a 200-day moving average of $502.90. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The company has a market capitalization of $334.81 billion, a P/E ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

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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