Invesco QQQ (NASDAQ:QQQ) Position Reduced by BCS Wealth Management

BCS Wealth Management trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 18.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,920 shares of the exchange traded fund’s stock after selling 1,572 shares during the period. BCS Wealth Management’s holdings in Invesco QQQ were worth $3,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. PayPay Securities Corp grew its stake in Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 36 shares during the last quarter. Bridge Generations Wealth Management LLC acquired a new stake in Invesco QQQ in the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ in the 4th quarter valued at about $36,000. Roxbury Financial LLC acquired a new stake in Invesco QQQ in the 4th quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $51,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $529.92 on Friday. The firm has a market capitalization of $332.07 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11. The company’s 50 day simple moving average is $483.20 and its 200 day simple moving average is $501.87. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a dividend of $0.7157 per share. The ex-dividend date of this dividend was 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.