Rafferty Asset Management LLC Cuts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Rafferty Asset Management LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 536,407 shares of the exchange traded fund's stock after selling 4,441 shares during the period. Invesco QQQ accounts for about 1.0% of Rafferty Asset Management LLC's portfolio, making the stock its 23rd largest holding. Rafferty Asset Management LLC owned approximately 0.09% of Invesco QQQ worth $274,227,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. PayPay Securities Corp raised its position in Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $36,000. Roxbury Financial LLC purchased a new stake in Invesco QQQ in the fourth quarter valued at approximately $37,000. Finally, Hoese & Co LLP increased its position in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after acquiring an additional 20 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded up $2.26 during trading hours on Friday, reaching $521.51. 47,717,535 shares of the company were exchanged, compared to its average volume of 36,808,704. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81. The stock's fifty day moving average is $470.91 and its 200 day moving average is $500.01. The firm has a market cap of $326.80 billion, a PE ratio of 30.62 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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