Sheets Smith Wealth Management Sells 146 Shares of Invesco QQQ (NASDAQ:QQQ)

Sheets Smith Wealth Management cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.6% in the 4th quarter, HoldingsChannel reports. The fund owned 24,332 shares of the exchange traded fund’s stock after selling 146 shares during the quarter. Invesco QQQ makes up 1.5% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 12th largest position. Sheets Smith Wealth Management’s holdings in Invesco QQQ were worth $12,439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Hoese & Co LLP raised its stake in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares in the last quarter. Legacy Bridge LLC raised its stake in Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares in the last quarter. BNP Paribas bought a new position in Invesco QQQ in the 3rd quarter valued at about $62,000. Brooklyn Investment Group bought a new position in Invesco QQQ in the fourth quarter valued at approximately $69,000. Finally, Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Invesco QQQ by 75.9% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $524.80 on Wednesday. The stock has a 50-day moving average price of $516.10 and a two-hundred day moving average price of $492.33. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $539.15.

Invesco QQQ Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 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.