Christensen King & Associates Investment Services Inc. Lowers Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Christensen King & Associates Investment Services Inc. reduced its position in Invesco QQQ (NASDAQ:QQQ) by 1.0% in the 1st quarter, Holdings Channel reports. The fund owned 5,211 shares of the exchange traded fund’s stock after selling 52 shares during the period. Invesco QQQ makes up about 1.2% of Christensen King & Associates Investment Services Inc.’s investment portfolio, making the stock its 20th biggest position. Christensen King & Associates Investment Services Inc.’s holdings in Invesco QQQ were worth $2,572,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ in the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $36,000. Roxbury Financial LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $37,000. Midwest Capital Advisors LLC acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $51,000. Finally, Banque Transatlantique SA acquired a new position in shares of Invesco QQQ in the 4th quarter valued at $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 1.3%

Shares of QQQ opened at $526.96 on Monday. The firm has a market cap of $330.22 billion, a PE ratio of 32.66 and a beta of 1.11. The company’s fifty day moving average is $492.58 and its two-hundred day moving average is $502.73. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. 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.