Hill Island Financial LLC Sells 1,520 Shares of Invesco QQQ (NASDAQ:QQQ)

Hill Island Financial LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 12.6% in the first quarter, Holdings Channel reports. The institutional investor owned 10,571 shares of the exchange traded fund’s stock after selling 1,520 shares during the period. Invesco QQQ makes up about 1.5% of Hill Island Financial LLC’s investment portfolio, making the stock its 12th biggest holding. Hill Island Financial LLC’s holdings in Invesco QQQ were worth $4,957,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Wilkins Miller Wealth Management LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at $1,018,000. Synergy Investment Management LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at $723,000. Grant Private Wealth Management Inc purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at $815,000. Tandem Investment Partners LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at $4,623,000. Finally, Gemsstock Ltd. boosted its stake in shares of Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after purchasing an additional 213,400 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $526.83 on Friday. The firm has a fifty day moving average price of $500.57 and a 200-day moving average price of $503.42. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were issued a $0.7157 dividend. 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.