Napa Wealth Management Sells 2,786 Shares of Invesco QQQ (NASDAQ:QQQ)

Napa Wealth Management lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 44.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,530 shares of the exchange traded fund's stock after selling 2,786 shares during the period. Invesco QQQ accounts for about 0.8% of Napa Wealth Management's portfolio, making the stock its 29th largest position. Napa Wealth Management's holdings in Invesco QQQ were worth $1,805,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Leigh Baldwin & CO. LLC acquired a new position in Invesco QQQ during the 4th quarter worth approximately $220,097,000. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Invesco QQQ by 0.3% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after acquiring an additional 20 shares in the last quarter. Lionshead Wealth Management LLC acquired a new position in shares of Invesco QQQ during the fourth quarter worth approximately $2,236,000. Little Harbor Advisors LLC lifted its holdings in shares of Invesco QQQ by 24.2% in the 4th quarter. Little Harbor Advisors LLC now owns 23,339 shares of the exchange traded fund's stock worth $11,932,000 after purchasing an additional 4,552 shares in the last quarter. Finally, Logan Stone Capital LLC bought a new position in shares of Invesco QQQ in the 4th quarter worth $1,386,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.6%

QQQ stock traded up $3.09 during midday trading on Wednesday, reaching $518.68. 46,863,846 shares of the company's stock traded hands, compared to its average volume of 36,719,434. The firm's fifty day moving average price is $468.98 and its 200-day moving average price is $499.70. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The company has a market cap of $324.28 billion, a price-to-earnings ratio of 30.62 and a beta of 1.18.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders 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.