Red Wave Investments LLC Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Red Wave Investments LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 37,830 shares of the exchange traded fund’s stock after selling 875 shares during the period. Invesco QQQ makes up approximately 6.8% of Red Wave Investments LLC’s portfolio, making the stock its 3rd biggest holding. Red Wave Investments LLC’s holdings in Invesco QQQ were worth $19,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC raised its stake in shares of Invesco QQQ by 47,853.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the period. Toronto Dominion Bank increased its holdings in Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after buying an additional 488,815 shares during the last quarter. Cibc World Market Inc. raised its position in Invesco QQQ by 90.0% in the fourth quarter. Cibc World Market Inc. now owns 686,117 shares of the exchange traded fund’s stock worth $350,764,000 after acquiring an additional 324,948 shares during the period. Empirical Asset Management LLC grew its position in shares of Invesco QQQ by 15,676.3% during the 4th quarter. Empirical Asset Management LLC now owns 202,883 shares of the exchange traded fund’s stock valued at $103,720,000 after acquiring an additional 201,597 shares during the period. Finally, Main Management ETF Advisors LLC increased its stake in shares of Invesco QQQ by 33.5% during the 3rd quarter. Main Management ETF Advisors LLC now owns 731,920 shares of the exchange traded fund’s stock worth $357,228,000 after purchasing an additional 183,550 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 2.1 %

NASDAQ:QQQ opened at $526.08 on Friday. The firm’s 50 day moving average is $523.39 and its 200 day moving average is $500.70. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $540.81.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date was Monday, December 23rd.

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.