Modern Wealth Management LLC trimmed its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 210,631 shares of the exchange traded fund's stock after selling 4,704 shares during the period. Invesco QQQ accounts for approximately 3.9% of Modern Wealth Management LLC's portfolio, making the stock its 2nd largest position. Modern Wealth Management LLC's holdings in Invesco QQQ were worth $111,476,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PayPay Securities Corp lifted its stake in shares of Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock valued at $25,000 after buying an additional 36 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $37,000. Hoese & Co LLP increased its stake in shares of Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock worth $42,000 after buying an additional 20 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in Invesco QQQ during the 4th quarter worth approximately $51,000. Finally, BNP Paribas acquired a new stake in shares of Invesco QQQ during the third quarter worth $62,000. Hedge funds and other institutional investors own 44.58% of the company's stock.
Invesco QQQ Trading Down 2.1 %
QQQ traded down $10.01 during trading on Friday, reaching $471.61. 15,713,338 shares of the company were exchanged, compared to its average volume of 34,792,948. Invesco QQQ has a 52 week low of $413.07 and a 52 week high of $540.81. The stock has a market cap of $297.23 billion, a P/E ratio of 30.74 and a beta of 1.11. The firm has a 50 day moving average of $509.49 and a 200 day moving average of $504.67.
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.
Invesco QQQ Company Profile
(
Free Report)
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.
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