Athena Investment Management Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Athena Investment Management reduced its position in Invesco QQQ (NASDAQ:QQQ) by 6.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,521 shares of the exchange traded fund’s stock after selling 113 shares during the quarter. Athena Investment Management’s holdings in Invesco QQQ were worth $778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Proficio Capital Partners LLC raised its position in Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. Strategic Financial Concepts LLC raised its position in 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 valued at $2,103,184,000 after purchasing an additional 4,105,389 shares during the last quarter. Artemis Wealth Advisors LLC raised its position in Invesco QQQ by 1,337.4% during the 4th quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock valued at $423,470,000 after purchasing an additional 895,277 shares during the last quarter. Toronto Dominion Bank raised its position in Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in Invesco QQQ by 90.0% during the 4th quarter. Cibc World Market Inc. now owns 686,117 shares of the exchange traded fund’s stock valued at $350,764,000 after purchasing an additional 324,948 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ opened at $508.30 on Friday. The business has a 50 day simple moving average of $522.05 and a two-hundred day simple moving average of $503.00. The firm has a market capitalization of $320.36 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81.

Invesco QQQ Dividend Announcement

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