Howard Financial Services LTD. Decreases Holdings in Invesco QQQ (NASDAQ:QQQ)

Howard Financial Services LTD. trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 5.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,358 shares of the exchange traded fund’s stock after selling 971 shares during the period. Invesco QQQ accounts for about 1.1% of Howard Financial Services LTD.’s holdings, making the stock its 25th largest holding. Howard Financial Services LTD.’s holdings in Invesco QQQ were worth $8,140,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bath Savings Trust Co lifted its holdings in shares of Invesco QQQ by 10.1% in the 1st quarter. Bath Savings Trust Co now owns 732 shares of the exchange traded fund’s stock valued at $343,000 after purchasing an additional 67 shares during the last quarter. Webster Bank N. A. lifted its holdings in shares of Invesco QQQ by 29.0% in the 1st quarter. Webster Bank N. A. now owns 16,422 shares of the exchange traded fund’s stock valued at $7,701,000 after purchasing an additional 3,688 shares during the last quarter. First Citizens Financial Corp lifted its holdings in shares of Invesco QQQ by 3.5% in the 1st quarter. First Citizens Financial Corp now owns 4,416 shares of the exchange traded fund’s stock valued at $2,071,000 after purchasing an additional 150 shares during the last quarter. Marcum Wealth LLC lifted its holdings in shares of Invesco QQQ by 0.5% in the 1st quarter. Marcum Wealth LLC now owns 19,661 shares of the exchange traded fund’s stock valued at $9,219,000 after purchasing an additional 95 shares during the last quarter. Finally, Hobart Private Capital LLC lifted its holdings in shares of Invesco QQQ by 18.6% in the 1st quarter. Hobart Private Capital LLC now owns 1,315 shares of the exchange traded fund’s stock valued at $617,000 after purchasing an additional 206 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $519.93 on Friday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The company has a market capitalization of $325.81 billion, a P/E ratio of 30.62 and a beta of 1.11. The stock has a 50-day simple moving average of $477.59 and a 200-day simple moving average of $501.08.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were issued 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.