Invesco QQQ (NASDAQ:QQQ) Shares Sold by GeoWealth Management LLC

GeoWealth Management LLC reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 23.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,022 shares of the exchange traded fund's stock after selling 7,606 shares during the quarter. GeoWealth Management LLC's holdings in Invesco QQQ were worth $12,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. SOA Wealth Advisors LLC. increased its position in Invesco QQQ by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund's stock worth $8,477,000 after purchasing an additional 46 shares during the period. McIlrath & Eck LLC grew its holdings in Invesco QQQ by 15.9% in the third quarter. McIlrath & Eck LLC now owns 20,218 shares of the exchange traded fund's stock valued at $9,868,000 after purchasing an additional 2,767 shares during the last quarter. Advisory Resource Group raised its stake in shares of Invesco QQQ by 5.8% during the 3rd quarter. Advisory Resource Group now owns 14,457 shares of the exchange traded fund's stock worth $7,056,000 after buying an additional 791 shares during the last quarter. Tudor Financial Inc. purchased a new position in Invesco QQQ during the 3rd quarter valued at about $3,376,000. Finally, Anchor Investment Management LLC raised its position in Invesco QQQ by 1.6% during the third quarter. Anchor Investment Management LLC now owns 42,889 shares of the exchange traded fund's stock worth $20,933,000 after acquiring an additional 693 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 3.1 %

Shares of QQQ traded up $13.52 during mid-day trading on Tuesday, reaching $446.63. 22,012,834 shares of the company's stock were exchanged, compared to its average volume of 36,455,131. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The company has a 50-day simple moving average of $480.64 and a two-hundred day simple moving average of $500.95. The company has a market cap of $285.80 billion, a price-to-earnings ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

About Invesco QQQ

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.