King Luther Capital Management Corp Cuts Stake in Invesco QQQ (NASDAQ:QQQ)

King Luther Capital Management Corp cut its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,220 shares of the exchange traded fund's stock after selling 1,918 shares during the period. King Luther Capital Management Corp's holdings in Invesco QQQ were worth $3,691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its holdings in shares of Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund's stock valued at $5,879,434,000 after buying an additional 11,478,188 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund's stock valued at $2,103,184,000 after acquiring an additional 4,105,389 shares during the last quarter. Artemis Wealth Advisors LLC lifted its position in Invesco QQQ by 1,337.4% in the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund's stock valued at $423,470,000 after acquiring an additional 895,277 shares during the last quarter. Toronto Dominion Bank boosted its stake in Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund's stock valued at $2,080,052,000 after acquiring an additional 488,815 shares in the last quarter. Finally, Cibc World Market Inc. grew its holdings in shares of Invesco QQQ by 90.0% during the fourth quarter. Cibc World Market Inc. now owns 686,117 shares of the exchange traded fund's stock worth $350,764,000 after purchasing an additional 324,948 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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Invesco QQQ Price Performance

Shares of QQQ traded down $8.58 during midday trading on Thursday, reaching $468.34. 46,159,744 shares of the stock were exchanged, compared to its average volume of 35,097,871. Invesco QQQ has a twelve month low of $413.07 and a twelve month high of $540.81. The company has a market capitalization of $295.17 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11. The business's 50-day moving average price is $515.67 and its 200 day moving average price is $503.63.

Invesco QQQ Announces Dividend

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

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.