Beacon Pointe Advisors LLC Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Beacon Pointe Advisors LLC reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 147,581 shares of the exchange traded fund's stock after selling 2,017 shares during the quarter. Invesco QQQ comprises about 0.8% of Beacon Pointe Advisors LLC's holdings, making the stock its 22nd largest position. Beacon Pointe Advisors LLC's holdings in Invesco QQQ were worth $75,448,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QQQ. GAMMA Investing LLC increased its holdings in Invesco QQQ by 159.6% in the fourth quarter. GAMMA Investing LLC now owns 3,349 shares of the exchange traded fund's stock valued at $1,712,000 after buying an additional 2,059 shares in the last quarter. Principal Financial Group Inc. boosted its position in Invesco QQQ by 141.0% during the third quarter. Principal Financial Group Inc. now owns 19,399 shares of the exchange traded fund's stock worth $9,468,000 after purchasing an additional 11,351 shares in the last quarter. NRI Wealth Management LC acquired a new stake in Invesco QQQ in the fourth quarter valued at $28,729,000. Garden State Investment Advisory Services LLC increased its position in shares of Invesco QQQ by 13.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 30,990 shares of the exchange traded fund's stock valued at $15,169,000 after buying an additional 3,581 shares in the last quarter. Finally, Silverleafe Capital Partners LLC raised its stake in shares of Invesco QQQ by 16.8% during the 4th quarter. Silverleafe Capital Partners LLC now owns 45,312 shares of the exchange traded fund's stock worth $23,165,000 after buying an additional 6,518 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 1.1 %

NASDAQ:QQQ opened at $472.56 on Monday. The company has a market capitalization of $299.44 billion, a P/E ratio of 28.58 and a beta of 1.11. The firm has a 50-day moving average price of $474.40 and a two-hundred day moving average price of $500.13. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be issued a $0.7157 dividend. The ex-dividend date is Monday, March 24th.

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.

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