Invesco QQQ (NASDAQ:QQQ) Position Cut by Greater Midwest Financial Group LLC

Greater Midwest Financial Group LLC trimmed its stake in Invesco QQQ (NASDAQ:QQQ) by 16.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 771 shares of the exchange traded fund’s stock after selling 151 shares during the quarter. Greater Midwest Financial Group LLC’s holdings in Invesco QQQ were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wilkins Miller Wealth Management LLC acquired a new position in shares of Invesco QQQ during the fourth quarter valued at $1,018,000. Grant Private Wealth Management Inc acquired a new position in shares of Invesco QQQ during the fourth quarter valued at $815,000. Gemsstock Ltd. increased its holdings in shares of Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after purchasing an additional 213,400 shares during the period. Tandem Investment Partners LLC acquired a new position in shares of Invesco QQQ during the fourth quarter valued at $4,623,000. Finally, Wescott Financial Advisory Group LLC grew its holdings in Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund’s stock worth $75,071,000 after acquiring an additional 2,600 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.1%

NASDAQ:QQQ opened at $555.45 on Friday. The business’s 50-day moving average price is $525.75 and its 200 day moving average price is $505.74. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $557.63.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, June 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.