Invesco QQQ (NASDAQ:QQQ) Stake Decreased by MBE Wealth Management LLC

MBE Wealth Management LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 10.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 49,737 shares of the exchange traded fund’s stock after selling 5,715 shares during the period. Invesco QQQ comprises 11.2% of MBE Wealth Management LLC’s investment portfolio, making the stock its biggest holding. MBE Wealth Management LLC’s holdings in Invesco QQQ were worth $23,323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Providence First Trust Co lifted its holdings in shares of Invesco QQQ by 3.0% in the 4th quarter. Providence First Trust Co now owns 676 shares of the exchange traded fund’s stock worth $346,000 after buying an additional 20 shares during the period. Diversified Enterprises LLC lifted its holdings in shares of Invesco QQQ by 0.4% in the 4th quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund’s stock worth $2,679,000 after buying an additional 20 shares during the period. Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Invesco QQQ by 4.3% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund’s stock worth $247,000 after buying an additional 20 shares during the period. Legacy Investment Solutions LLC lifted its holdings in shares of Invesco QQQ by 8.2% in the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund’s stock worth $138,000 after buying an additional 20 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 0.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund’s stock worth $3,080,000 after buying an additional 20 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.4%

Shares of QQQ stock opened at $526.83 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The stock has a fifty day simple moving average of $500.57 and a two-hundred day simple moving average of $503.28.

Invesco QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued 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.