Capital Market Strategies LLC Cuts Stake in Invesco QQQ (NASDAQ:QQQ)

Capital Market Strategies LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 40.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,767 shares of the exchange traded fund’s stock after selling 1,895 shares during the period. Invesco QQQ comprises 0.9% of Capital Market Strategies LLC’s investment portfolio, making the stock its 25th biggest holding. Capital Market Strategies LLC’s holdings in Invesco QQQ were worth $1,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealth Group Ltd. boosted its position in Invesco QQQ by 6.9% during the fourth quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund’s stock worth $810,000 after purchasing an additional 102 shares during the period. Tallon Kerry Patrick bought a new position in Invesco QQQ during the fourth quarter worth about $4,904,000. Capital & Planning LLC boosted its position in Invesco QQQ by 5.0% during the fourth quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund’s stock worth $2,477,000 after purchasing an additional 229 shares during the period. Naviter Wealth LLC boosted its position in Invesco QQQ by 8.8% during the fourth quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund’s stock worth $675,000 after purchasing an additional 107 shares during the period. Finally, Eagle Capital Management LLC boosted its position in Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund’s stock worth $31,025,000 after purchasing an additional 185 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.2%

Shares of NASDAQ:QQQ opened at $519.93 on Friday. The firm has a market capitalization of $325.81 billion, a PE ratio of 30.62 and a beta of 1.11. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The company has a 50-day moving average price of $477.59 and a two-hundred day moving average price of $501.08.

Invesco QQQ Cuts Dividend

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