Invesco QQQ (NASDAQ:QQQ) Stock Position Reduced by Murphy Middleton Hinkle & Parker Inc.

Murphy Middleton Hinkle & Parker Inc. trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 6.2% in the first quarter, Holdings Channel.com reports. The fund owned 2,026 shares of the exchange traded fund’s stock after selling 134 shares during the period. Murphy Middleton Hinkle & Parker Inc.’s holdings in Invesco QQQ were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Group Ltd. boosted its holdings in Invesco QQQ by 6.9% during the fourth quarter. Wealth Group Ltd. now owns 1,584 shares of the exchange traded fund’s stock worth $810,000 after buying an additional 102 shares in the last quarter. Tallon Kerry Patrick bought a new stake in shares of Invesco QQQ during the 4th quarter worth $4,904,000. Capital & Planning LLC grew its holdings in shares of Invesco QQQ by 5.0% in the 4th quarter. Capital & Planning LLC now owns 4,844 shares of the exchange traded fund’s stock worth $2,477,000 after acquiring an additional 229 shares during the last quarter. Naviter Wealth LLC raised its position in shares of Invesco QQQ by 8.8% during the fourth quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund’s stock worth $675,000 after purchasing an additional 107 shares during the period. Finally, Eagle Capital Management LLC raised its position in shares of Invesco QQQ by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund’s stock worth $31,025,000 after purchasing an additional 185 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.7%

QQQ stock opened at $534.21 on Wednesday. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The firm has a 50-day moving average of $485.97 and a two-hundred day moving average of $502.25. The firm has a market capitalization of $334.76 billion, a PE ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The business also recently declared 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.