Invesco QQQ (NASDAQ:QQQ) Shares Sold by Trek Financial LLC

Trek Financial LLC reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,439 shares of the exchange traded fund's stock after selling 1,334 shares during the quarter. Trek Financial LLC's holdings in Invesco QQQ were worth $11,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ during the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ during the fourth quarter worth approximately $36,000. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ during the first quarter worth approximately $51,000. Finally, Banque Transatlantique SA purchased a new position in shares of Invesco QQQ during the fourth quarter worth approximately $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded down $1.25 during trading on Friday, reaching $554.20. 39,558,757 shares of the company were exchanged, compared to its average volume of 39,410,558. The business's fifty day simple moving average is $527.06 and its 200-day simple moving average is $505.91. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $557.63.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%.

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.