Strategic Advisors LLC Lowers Stock Position in Invesco QQQ (NASDAQ:QQQ)

Strategic Advisors LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.2% in the first quarter, Holdings Channel.com reports. The fund owned 12,301 shares of the exchange traded fund’s stock after selling 545 shares during the quarter. Invesco QQQ makes up 1.1% of Strategic Advisors LLC’s investment portfolio, making the stock its 24th largest position. Strategic Advisors LLC’s holdings in Invesco QQQ were worth $5,768,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Bridge Generations Wealth Management LLC purchased a new position in Invesco QQQ during the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $36,000. Midwest Capital Advisors LLC purchased a new position in shares of Invesco QQQ during the 4th quarter worth approximately $51,000. Banque Transatlantique SA purchased a new position in shares of Invesco QQQ during the 4th quarter worth approximately $57,000. Finally, Perritt Capital Management Inc acquired a new position in shares of Invesco QQQ during the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock opened at $534.29 on Tuesday. The stock’s 50 day moving average price is $494.94 and its 200 day moving average price is $502.90. The firm has a market cap of $334.81 billion, a P/E ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.