Alliance Wealth Management Group Sells 490 Shares of Invesco QQQ (NASDAQ:QQQ)

Alliance Wealth Management Group trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 19.1% during the fourth quarter, Holdings Channel reports. The firm owned 2,072 shares of the exchange traded fund’s stock after selling 490 shares during the quarter. Alliance Wealth Management Group’s holdings in Invesco QQQ were worth $1,059,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC lifted its position in shares of Invesco QQQ by 51,292.3% in the fourth 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 buying an additional 11,478,188 shares during the last quarter. Toronto Dominion Bank lifted its holdings 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. Strategic Financial Concepts LLC boosted its position in Invesco QQQ by 47,853.9% during the fourth 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. PNC Financial Services Group Inc. boosted its position in Invesco QQQ by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock worth $1,593,354,000 after purchasing an additional 27,115 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Invesco QQQ by 2.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock valued at $1,239,886,000 after purchasing an additional 52,235 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $468.92 on Tuesday. The stock has a market cap of $297.46 billion, a PE ratio of 30.05 and a beta of 1.18. The firm has a 50-day moving average of $507.38 and a 200-day moving average of $505.32. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is Monday, March 24th.

Invesco QQQ Company 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.