Wealth Quarterback LLC Sells 7,472 Shares of Invesco QQQ (NASDAQ:QQQ)

Wealth Quarterback LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 82.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,581 shares of the exchange traded fund's stock after selling 7,472 shares during the quarter. Wealth Quarterback LLC's holdings in Invesco QQQ were worth $741,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wilkins Miller Wealth Management LLC bought a new position in Invesco QQQ during the 4th quarter valued at $1,018,000. Grant Private Wealth Management Inc purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at $815,000. Gemsstock Ltd. lifted its holdings in shares of 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 purchasing an additional 213,400 shares in the last quarter. Tandem Investment Partners LLC acquired a new position in shares of Invesco QQQ in the fourth quarter worth $4,623,000. Finally, Wescott Financial Advisory Group LLC increased its stake in shares of Invesco QQQ by 1.8% in 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 acquiring an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.4%

Shares of NASDAQ QQQ traded down $2.32 during mid-day trading on Tuesday, hitting $561.85. The company had a trading volume of 34,652,890 shares, compared to its average volume of 39,482,489. The business's 50-day simple moving average is $534.38 and its 200-day simple moving average is $507.13. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $566.06.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, June 23rd.

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.