Traction Financial Partners LLC Has $12.03 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Traction Financial Partners LLC cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,644 shares of the exchange traded fund's stock after selling 3,519 shares during the quarter. Invesco QQQ accounts for 9.4% of Traction Financial Partners LLC's portfolio, making the stock its 4th biggest holding. Traction Financial Partners LLC's holdings in Invesco QQQ were worth $12,025,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Proficio Capital Partners LLC grew its position in Invesco QQQ by 51,292.3% during the fourth quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock worth $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. NWI Management LP grew its position in Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund's stock worth $331,277,000 after buying an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock valued at $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. Senator Investment Group LP acquired a new stake in Invesco QQQ during the fourth quarter valued at approximately $679,936,000. Finally, Artemis Wealth Advisors LLC boosted its holdings in Invesco QQQ by 1,337.4% during the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund's stock valued at $423,470,000 after purchasing an additional 895,277 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ QQQ traded up $1.25 during trading on Thursday, reaching $533.66. 33,939,410 shares of the company traded hands, compared to its average volume of 38,248,930. The stock's 50 day moving average price is $490.36 and its two-hundred day moving average price is $502.64. The company has a market cap of $334.42 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81.

Invesco QQQ Cuts Dividend

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