Prudential Financial Inc. Sells 120,389 Shares of Invesco QQQ (NASDAQ:QQQ)

Prudential Financial Inc. reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 99.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,150 shares of the exchange traded fund's stock after selling 120,389 shares during the quarter. Prudential Financial Inc.'s holdings in Invesco QQQ were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. PayPay Securities Corp boosted its holdings in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund's stock worth $25,000 after acquiring an additional 36 shares during the period. Roxbury Financial LLC bought a new position in Invesco QQQ in the 4th quarter worth about $37,000. Hoese & Co LLP boosted its stake in Invesco QQQ by 32.3% in 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 period. Midwest Capital Advisors LLC purchased a new position in Invesco QQQ during the 4th quarter valued at about $51,000. Finally, Creative Capital Management Investments LLC increased its position in shares of Invesco QQQ by 740.0% during the fourth quarter. Creative Capital Management Investments LLC now owns 126 shares of the exchange traded fund's stock valued at $64,000 after buying an additional 111 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 1.8 %

Shares of Invesco QQQ stock traded up $8.22 on Friday, reaching $454.40. The stock had a trading volume of 52,407,577 shares, compared to its average volume of 36,858,069. The business's 50 day moving average is $490.33 and its two-hundred day moving average is $502.44. The company has a market cap of $283.95 billion, a P/E ratio of 30.05 and a beta of 1.11. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81.

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 issued 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.