Invesco QQQ (NASDAQ:QQQ) Shares Sold by JP Wealth Management Inc.

JP Wealth Management Inc. cut its stake in Invesco QQQ (NASDAQ:QQQ) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,203 shares of the exchange traded fund’s stock after selling 235 shares during the quarter. Invesco QQQ makes up approximately 3.2% of JP Wealth Management Inc.’s portfolio, making the stock its 7th largest holding. JP Wealth Management Inc.’s holdings in Invesco QQQ were worth $9,943,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $36,000. Midwest Capital Advisors LLC acquired a new position in Invesco QQQ in the 4th quarter valued at $51,000. Banque Transatlantique SA acquired a new position in Invesco QQQ in the 4th quarter valued at $57,000. Finally, Perritt Capital Management Inc purchased a new position in Invesco QQQ in the 4th quarter valued at $61,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.0%

Shares of QQQ opened at $529.08 on Wednesday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The firm’s fifty day moving average is $496.20 and its two-hundred day moving average is $503.08.

Invesco QQQ Cuts Dividend

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