Townsend Asset Management Corp NC ADV Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Townsend Asset Management Corp NC ADV trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 36,849 shares of the exchange traded fund's stock after selling 1,414 shares during the period. Invesco QQQ comprises 6.7% of Townsend Asset Management Corp NC ADV's investment portfolio, making the stock its biggest position. Townsend Asset Management Corp NC ADV's holdings in Invesco QQQ were worth $17,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilkins Miller Wealth Management LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth about $1,018,000. Synergy Investment Management LLC bought a new stake in Invesco QQQ in the fourth quarter worth about $723,000. Grant Private Wealth Management Inc purchased a new position in Invesco QQQ in the fourth quarter valued at about $815,000. Tandem Investment Partners LLC purchased a new position in Invesco QQQ in the fourth quarter valued at about $4,623,000. Finally, Gemsstock Ltd. grew its position in shares of Invesco QQQ by 266.4% during the 4th 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 period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.0%

NASDAQ:QQQ opened at $528.99 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The firm's 50 day moving average is $499.12 and its 200 day moving average is $503.35.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date of this dividend 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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