PFS Partners LLC Lowers Holdings in Invesco QQQ (NASDAQ:QQQ)

PFS Partners LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,370 shares of the exchange traded fund’s stock after selling 56 shares during the quarter. Invesco QQQ comprises about 0.3% of PFS Partners LLC’s holdings, making the stock its 26th largest position. PFS Partners LLC’s holdings in Invesco QQQ were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in Invesco QQQ by 51.0% during the first quarter. Farther Finance Advisors LLC now owns 56,247 shares of the exchange traded fund’s stock worth $26,588,000 after purchasing an additional 18,986 shares during the period. City Holding Co. increased its holdings in shares of Invesco QQQ by 13.4% during the 1st quarter. City Holding Co. now owns 9,125 shares of the exchange traded fund’s stock worth $4,279,000 after buying an additional 1,076 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Invesco QQQ by 5.8% during the 1st quarter. Daymark Wealth Partners LLC now owns 19,890 shares of the exchange traded fund’s stock worth $9,327,000 after buying an additional 1,087 shares during the last quarter. Range Financial Group LLC boosted its holdings in Invesco QQQ by 7.9% in the first quarter. Range Financial Group LLC now owns 820 shares of the exchange traded fund’s stock valued at $385,000 after acquiring an additional 60 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in Invesco QQQ by 8.0% during the first quarter. Portside Wealth Group LLC now owns 1,831 shares of the exchange traded fund’s stock valued at $859,000 after acquiring an additional 136 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $529.92 on Monday. The business has a 50-day moving average of $483.20 and a two-hundred day moving average of $501.85. The firm has a market capitalization of $332.07 billion, a PE ratio of 32.66 and a beta of 1.11. Invesco QQQ has a 12 month low of $402.39 and a 12 month 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 given 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.