L & S Advisors Inc Sells 292 Shares of Invesco QQQ (NASDAQ:QQQ)

L & S Advisors Inc trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 14.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,682 shares of the exchange traded fund’s stock after selling 292 shares during the period. L & S Advisors Inc’s holdings in Invesco QQQ were worth $789,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of QQQ. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ during the first quarter worth $2,775,904,000. NWI Management LP grew its stake in shares of Invesco QQQ by 121.6% in the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock valued at $331,277,000 after buying an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock valued at $8,777,850,000 after buying an additional 1,868,580 shares in the last quarter. Senator Investment Group LP bought a new position in shares of Invesco QQQ in the fourth quarter valued at $679,936,000. Finally, Spear Holdings RSC Ltd bought a new stake in Invesco QQQ in the 1st quarter valued at $474,600,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $553.88 on Monday. The stock’s fifty day simple moving average is $544.01 and its 200 day simple moving average is $510.67. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $574.63.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

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.