Vantage Point Financial LLC Trims Stake in Invesco QQQ (NASDAQ:QQQ)

Vantage Point Financial LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 1.6% during the 1st quarter, HoldingsChannel reports. The fund owned 2,841 shares of the exchange traded fund’s stock after selling 45 shares during the period. Vantage Point Financial LLC’s holdings in Invesco QQQ were worth $1,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. Tallon Kerry Patrick purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at $4,904,000. Naviter Wealth LLC increased its stake in Invesco QQQ by 8.8% in the 4th quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund’s stock worth $675,000 after buying an additional 107 shares during the period. Eagle Capital Management LLC increased its stake in Invesco QQQ by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund’s stock worth $31,025,000 after buying an additional 185 shares during the period. Brighton Jones LLC increased its stake in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after buying an additional 4,989 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Invesco QQQ in the 4th quarter worth about $14,209,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.9%

QQQ stock opened at $531.65 on Tuesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The firm’s 50-day moving average is $502.05 and its 200 day moving average is $503.19.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, June 23rd.

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.