Hobbs Group Advisors LLC Lowers Holdings in Invesco QQQ (NASDAQ:QQQ)

Hobbs Group Advisors LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,777 shares of the exchange traded fund's stock after selling 1,305 shares during the period. Hobbs Group Advisors LLC's holdings in Invesco QQQ were worth $1,420,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of QQQ. GAMMA Investing LLC grew its position in Invesco QQQ by 159.6% during the 4th 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. raised its holdings in shares of 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 buying an additional 11,351 shares during the last quarter. NRI Wealth Management LC acquired a new stake in shares of Invesco QQQ during the fourth quarter worth $28,729,000. Garden State Investment Advisory Services LLC grew its holdings 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 valued at $15,169,000 after buying an additional 3,581 shares during the last quarter. Finally, Silverleafe Capital Partners LLC grew its holdings in shares of Invesco QQQ by 16.8% during 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 buying an additional 6,518 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

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Invesco QQQ Stock Performance

QQQ stock traded up $0.79 during midday trading on Monday, reaching $469.73. The stock had a trading volume of 42,704,074 shares, compared to its average volume of 35,113,514. The firm has a fifty day simple moving average of $508.43 and a two-hundred day simple moving average of $505.35. The stock has a market cap of $296.05 billion, a PE ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors 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.