Ergawealth Advisors Inc. Sells 511 Shares of Invesco QQQ (NASDAQ:QQQ)

Ergawealth Advisors Inc. decreased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 28.0% during the first quarter, Holdings Channel reports. The firm owned 1,312 shares of the exchange traded fund’s stock after selling 511 shares during the quarter. Ergawealth Advisors Inc.’s holdings in Invesco QQQ were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ in the fourth quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ in the fourth quarter worth approximately $36,000. Midwest Capital Advisors LLC bought a new position in Invesco QQQ in the fourth quarter worth approximately $51,000. Banque Transatlantique SA bought a new position in Invesco QQQ in the fourth quarter worth approximately $57,000. Finally, Perritt Capital Management Inc bought a new position in Invesco QQQ in the fourth quarter worth approximately $61,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.4%

QQQ opened at $526.83 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $540.81. The firm’s 50 day simple moving average is $500.57 and its two-hundred day simple moving average is $503.28.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a $0.7157 dividend. The ex-dividend date of this dividend 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.