Redwood Financial Network Corp Sells 736 Shares of Invesco QQQ (NASDAQ:QQQ)

Redwood Financial Network Corp reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 20.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,951 shares of the exchange traded fund's stock after selling 736 shares during the quarter. Invesco QQQ makes up about 1.1% of Redwood Financial Network Corp's portfolio, making the stock its 24th biggest holding. Redwood Financial Network Corp's holdings in Invesco QQQ were worth $1,509,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in Invesco QQQ by 141.0% during the 3rd quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after purchasing an additional 11,351 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $723,000. Grant Private Wealth Management Inc bought a new stake in shares of Invesco QQQ in the fourth quarter valued at about $815,000. Tandem Investment Partners LLC bought a new position in Invesco QQQ during the fourth quarter worth about $4,623,000. Finally, Gemsstock Ltd. grew its position in shares of Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock worth $150,046,000 after purchasing an additional 213,400 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.6%

Shares of QQQ stock opened at $518.68 on Thursday. The stock has a 50 day simple moving average of $468.98 and a 200 day simple moving average of $499.70. 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 $324.28 billion, a P/E ratio of 30.62 and a beta of 1.18.

Invesco QQQ Cuts Dividend

The business also recently announced 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 was Monday, March 24th.

Invesco QQQ Company 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.

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