Sun Life Financial Inc. Sells 5,750 Shares of Invesco QQQ (NASDAQ:QQQ)

Sun Life Financial Inc. reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 163,910 shares of the exchange traded fund's stock after selling 5,750 shares during the period. Invesco QQQ comprises about 4.7% of Sun Life Financial Inc.'s investment portfolio, making the stock its 5th biggest position. Sun Life Financial Inc.'s holdings in Invesco QQQ were worth $83,796,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in QQQ. SOA Wealth Advisors LLC. grew its holdings 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 acquiring an additional 46 shares during the last quarter. Redwood Investment Management LLC grew its stake in shares of Invesco QQQ by 51.2% during the third quarter. Redwood Investment Management LLC now owns 3,991 shares of the exchange traded fund's stock valued at $1,976,000 after purchasing an additional 1,352 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Invesco QQQ in the third quarter valued at approximately $471,000. Temasek Holdings Private Ltd bought a new position in Invesco QQQ in the 3rd quarter worth approximately $50,235,000. Finally, Weiss Asset Management LP acquired a new position in Invesco QQQ during the 3rd quarter worth $1,659,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

QQQ traded down $27.99 during mid-day trading on Friday, reaching $422.67. The stock had a trading volume of 116,767,600 shares, compared to its average volume of 35,455,038. The firm's fifty day simple moving average is $501.45 and its two-hundred day simple moving average is $504.81. The stock has a market capitalization of $267.89 billion, a P/E ratio of 30.05 and a beta of 1.11. Invesco QQQ has a 52 week low of $413.07 and a 52 week high of $540.81.

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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 issued a $0.7157 dividend. 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.