Rehmann Capital Advisory Group Trims Position in Invesco QQQ (NASDAQ:QQQ)

Rehmann Capital Advisory Group cut its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,685 shares of the exchange traded fund's stock after selling 931 shares during the period. Invesco QQQ comprises approximately 0.7% of Rehmann Capital Advisory Group's investment portfolio, making the stock its 28th largest holding. Rehmann Capital Advisory Group's holdings in Invesco QQQ were worth $11,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of QQQ. GAMMA Investing LLC raised its stake in shares of Invesco QQQ by 159.6% during the 4th quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund's stock worth $1,712,000 after purchasing an additional 2,059 shares during the period. Principal Financial Group Inc. boosted its stake in Invesco QQQ by 141.0% in the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock valued at $9,468,000 after acquiring an additional 11,351 shares during the last quarter. NRI Wealth Management LC bought a new position in shares of Invesco QQQ during the 4th quarter valued at approximately $28,729,000. Garden State Investment Advisory Services LLC increased its stake in shares of Invesco QQQ by 13.1% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund's stock worth $15,169,000 after purchasing an additional 3,581 shares during the last quarter. Finally, Silverleafe Capital Partners LLC raised its holdings in shares of Invesco QQQ by 16.8% in the 4th quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund's stock worth $23,165,000 after purchasing an additional 6,518 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 1.3 %

Invesco QQQ stock traded up $6.21 during trading on Thursday, hitting $481.68. The stock had a trading volume of 42,866,187 shares, compared to its average volume of 36,429,114. The stock's 50 day moving average is $470.05 and its two-hundred day moving average is $499.54. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81. The stock has a market cap of $301.84 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

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.