Metropolitan Life Insurance Co NY Sells 4,600 Shares of Invesco QQQ (NASDAQ:QQQ)

Metropolitan Life Insurance Co NY cut its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 32.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,600 shares of the exchange traded fund's stock after selling 4,600 shares during the period. Invesco QQQ makes up about 1.9% of Metropolitan Life Insurance Co NY's portfolio, making the stock its 9th biggest holding. Metropolitan Life Insurance Co NY's holdings in Invesco QQQ were worth $4,908,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of QQQ. PayPay Securities Corp increased its holdings in Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after purchasing an additional 36 shares during the period. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ during the fourth quarter worth $35,000. Roxbury Financial LLC purchased a new position in shares of Invesco QQQ in the 4th quarter valued at approximately $37,000. Hoese & Co LLP grew its position in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after purchasing an additional 20 shares during the last quarter. Finally, Midwest Capital Advisors LLC purchased a new stake in Invesco QQQ during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 2.4 %

Invesco QQQ stock traded up $10.75 during mid-day trading on Wednesday, hitting $455.23. The company had a trading volume of 54,797,537 shares, compared to its average volume of 36,598,319. The company has a market capitalization of $291.30 billion, a price-to-earnings 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 has a 12-month low of $402.39 and a 12-month high of $540.81.

Invesco QQQ Cuts Dividend

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