Capital Group Private Client Services Inc. Decreases Holdings in Invesco QQQ (NASDAQ:QQQ)

Capital Group Private Client Services Inc. cut its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 16.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,505 shares of the exchange traded fund's stock after selling 907 shares during the quarter. Capital Group Private Client Services Inc.'s holdings in Invesco QQQ were worth $2,303,000 as of its most recent SEC filing.

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

Invesco QQQ Stock Up 2.2 %

NASDAQ QQQ traded up $9.58 on Wednesday, reaching $454.06. The company had a trading volume of 32,074,969 shares, compared to its average volume of 36,514,474. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The stock has a market capitalization of $290.55 billion, a P/E ratio of 28.58 and a beta of 1.11. The company's fifty day moving average is $478.81 and its 200 day moving average is $500.56.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

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.