Balboa Wealth Partners Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Balboa Wealth Partners lessened its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 28.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,231 shares of the exchange traded fund's stock after selling 3,582 shares during the period. Invesco QQQ accounts for 1.1% of Balboa Wealth Partners' investment portfolio, making the stock its 16th largest position. Balboa Wealth Partners' holdings in Invesco QQQ were worth $4,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Stephens Consulting LLC lifted its position in shares of Invesco QQQ by 0.4% during the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund's stock valued at $2,769,000 after buying an additional 19 shares during the last quarter. Planning Capital Management Corp lifted its position in shares of Invesco QQQ by 7.1% during the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund's stock valued at $146,000 after buying an additional 20 shares during the last quarter. Cardinal Point Capital Management ULC lifted its position in shares of Invesco QQQ by 0.5% during the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund's stock valued at $1,995,000 after buying an additional 20 shares during the last quarter. Hoese & Co LLP lifted its position in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after buying an additional 20 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Invesco QQQ by 1.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund's stock worth $559,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

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Invesco QQQ Stock Down 1.8 %

QQQ traded down $8.58 during trading on Thursday, reaching $468.34. 46,159,744 shares of the company were exchanged, compared to its average volume of 35,097,871. The company's 50-day moving average is $515.67 and its two-hundred day moving average is $503.63. The company has a market cap of $295.17 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $540.81.

Invesco QQQ Announces Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 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.