GenWealth Group Inc. Sells 37,182 Shares of Invesco QQQ (NASDAQ:QQQ)

GenWealth Group Inc. trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 97.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 839 shares of the exchange traded fund’s stock after selling 37,182 shares during the quarter. GenWealth Group Inc.’s holdings in Invesco QQQ were worth $393,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Veracity Capital LLC raised its stake in Invesco QQQ by 8.6% in the first quarter. Veracity Capital LLC now owns 1,459 shares of the exchange traded fund’s stock worth $684,000 after buying an additional 116 shares in the last quarter. Granite Bay Wealth Management LLC raised its stake in Invesco QQQ by 13.9% in the first quarter. Granite Bay Wealth Management LLC now owns 17,557 shares of the exchange traded fund’s stock worth $8,233,000 after buying an additional 2,149 shares in the last quarter. Teamwork Financial Advisors LLC raised its stake in Invesco QQQ by 129.2% in the first quarter. Teamwork Financial Advisors LLC now owns 2,168 shares of the exchange traded fund’s stock worth $1,017,000 after buying an additional 1,222 shares in the last quarter. Platt Investment Counsel LLC raised its stake in Invesco QQQ by 1.8% in the first quarter. Platt Investment Counsel LLC now owns 39,699 shares of the exchange traded fund’s stock worth $18,616,000 after buying an additional 717 shares in the last quarter. Finally, Sendero Wealth Management LLC bought a new position in Invesco QQQ in the first quarter worth about $273,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ stock opened at $527.30 on Wednesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81. The company has a market cap of $338.97 billion, a P/E ratio of 32.66 and a beta of 1.18. The firm has a 50-day moving average of $479.75 and a 200 day moving average of $501.34.

Invesco QQQ Cuts Dividend

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

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.