Invesco QQQ (NASDAQ:QQQ) Shares Sold by Alliance Wealth Management Group

Alliance Wealth Management Group lessened its stake in Invesco QQQ (NASDAQ:QQQ) by 15.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,761 shares of the exchange traded fund’s stock after selling 311 shares during the quarter. Alliance Wealth Management Group’s holdings in Invesco QQQ were worth $826,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. Legacy Investment Solutions LLC increased its stake in shares of Invesco QQQ by 8.2% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund’s stock worth $138,000 after buying an additional 20 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its position in Invesco QQQ by 0.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund’s stock valued at $3,080,000 after purchasing an additional 20 shares during the last quarter. Willis Johnson & Associates Inc. lifted its holdings in shares of Invesco QQQ by 2.6% during the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund’s stock worth $416,000 after purchasing an additional 21 shares during the period. MTM Investment Management LLC lifted its holdings in shares of Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock worth $613,000 after purchasing an additional 21 shares during the period. Finally, Cutler Investment Counsel LLC lifted its holdings in Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock valued at $710,000 after acquiring an additional 21 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $568.02 on Thursday. Invesco QQQ has a one year low of $402.39 and a one year high of $572.11. The business has a fifty day moving average of $542.10 and a two-hundred day moving average of $509.98.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

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.