Invesco QQQ (NASDAQ:QQQ) Shares Sold by Modern Wealth Management LLC

Modern Wealth Management LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,631 shares of the exchange traded fund’s stock after selling 4,704 shares during the quarter. Invesco QQQ accounts for approximately 3.9% of Modern Wealth Management LLC’s holdings, making the stock its 2nd largest holding. Modern Wealth Management LLC’s holdings in Invesco QQQ were worth $111,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PayPay Securities Corp increased its position in shares of Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 36 shares in the last quarter. Roxbury Financial LLC acquired a new position in Invesco QQQ in the 4th quarter worth $37,000. Hoese & Co LLP increased its holdings in Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter valued at about $51,000. Finally, BNP Paribas bought a new stake in shares of Invesco QQQ in the third quarter valued at about $62,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

QQQ stock opened at $490.66 on Tuesday. The stock has a market capitalization of $309.24 billion, a P/E ratio of 30.74 and a beta of 1.11. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $540.81. The business has a 50-day moving average of $511.00 and a 200-day moving average of $504.66.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be given a dividend of $0.7157 per share. The ex-dividend date 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.