Koesten Hirschmann & Crabtree INC. Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Koesten Hirschmann & Crabtree INC. cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 10.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 254 shares of the exchange traded fund’s stock after selling 30 shares during the quarter. Koesten Hirschmann & Crabtree INC.’s holdings in Invesco QQQ were worth $119,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Bridge Generations Wealth Management LLC purchased a new stake in Invesco QQQ during the 4th quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $36,000. Banque Transatlantique SA acquired a new stake in shares of Invesco QQQ during the 4th quarter worth about $57,000. Perritt Capital Management Inc purchased a new stake in Invesco QQQ during the fourth quarter worth approximately $61,000. Finally, Frazier Financial Advisors LLC lifted its stake in Invesco QQQ by 1,288.9% during the fourth quarter. Frazier Financial Advisors LLC now owns 125 shares of the exchange traded fund’s stock worth $64,000 after purchasing an additional 116 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.5%

Shares of Invesco QQQ stock opened at $539.78 on Wednesday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $540.81. The firm’s 50 day moving average is $503.69 and its two-hundred day moving average is $503.45.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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.