Destination Wealth Management Cuts Stake in Invesco QQQ (NASDAQ:QQQ)

Destination Wealth Management trimmed its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,303 shares of the exchange traded fund's stock after selling 668 shares during the period. Destination Wealth Management's holdings in Invesco QQQ were worth $8,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. PayPay Securities Corp lifted its holdings in Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Roxbury Financial LLC purchased a new position in Invesco QQQ in the 4th quarter valued at about $37,000. Hoese & Co LLP lifted its holdings in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after purchasing an additional 20 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in Invesco QQQ in the 4th quarter valued at about $51,000. Finally, Legacy Bridge LLC lifted its holdings in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund's stock valued at $59,000 after purchasing an additional 45 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ:QQQ traded up $3.59 on Friday, reaching $491.79. The stock had a trading volume of 54,649,747 shares, compared to its average volume of 34,845,187. The company has a market cap of $309.95 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11. The firm's fifty day moving average is $518.84 and its two-hundred day moving average is $504.14. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $540.81.

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Invesco QQQ Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 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.