Zacks Investment Management Reduces Holdings in Invesco QQQ (NASDAQ:QQQ)

Zacks Investment Management reduced its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,016 shares of the exchange traded fund's stock after selling 571 shares during the quarter. Zacks Investment Management's holdings in Invesco QQQ were worth $4,098,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in 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. Roxbury Financial LLC acquired a new position 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% during 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 period. Midwest Capital Advisors LLC acquired a new stake in Invesco QQQ in the fourth quarter valued at approximately $51,000. Finally, Perritt Capital Management Inc purchased a new position in Invesco QQQ in the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 2.4 %

NASDAQ QQQ traded up $10.19 on Tuesday, hitting $443.30. 14,723,543 shares of the stock were exchanged, compared to its average volume of 44,260,102. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The company has a 50-day moving average price of $480.64 and a 200-day moving average price of $500.95. The company has a market cap of $283.67 billion, a PE ratio of 28.58 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be paid 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.