Capital Wealth Management LLC Has $775,000 Holdings in Invesco QQQ (NASDAQ:QQQ)

Capital Wealth Management LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.1% during the 1st quarter, HoldingsChannel reports. The fund owned 1,653 shares of the exchange traded fund’s stock after selling 35 shares during the quarter. Invesco QQQ accounts for approximately 0.3% of Capital Wealth Management LLC’s holdings, making the stock its 27th largest position. Capital Wealth Management LLC’s holdings in Invesco QQQ were worth $775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bridge Generations Wealth Management LLC acquired a new stake in Invesco QQQ during the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Invesco QQQ during the fourth quarter worth about $36,000. Midwest Capital Advisors LLC acquired a new stake in Invesco QQQ during the fourth quarter worth about $51,000. Banque Transatlantique SA acquired a new stake in Invesco QQQ during the fourth quarter worth about $57,000. Finally, Perritt Capital Management Inc acquired a new stake in Invesco QQQ during the fourth quarter worth about $61,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 1.0%

Shares of Invesco QQQ stock opened at $529.08 on Wednesday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81. The firm’s 50-day moving average price is $496.20 and its two-hundred day moving average price is $503.08.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

Invesco QQQ Company 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.