Invesco QQQ (NASDAQ:QQQ) Position Trimmed by Gerber LLC

Gerber LLC trimmed its stake in Invesco QQQ (NASDAQ:QQQ) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,842 shares of the exchange traded fund’s stock after selling 640 shares during the quarter. Invesco QQQ accounts for 9.3% of Gerber LLC’s portfolio, making the stock its 2nd largest position. Gerber LLC’s holdings in Invesco QQQ were worth $11,180,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Tallon Kerry Patrick bought a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $4,904,000. Naviter Wealth LLC grew its position in Invesco QQQ by 8.8% in the fourth quarter. Naviter Wealth LLC now owns 1,320 shares of the exchange traded fund’s stock worth $675,000 after acquiring an additional 107 shares in the last quarter. Eagle Capital Management LLC increased its stake in shares of Invesco QQQ by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund’s stock worth $31,025,000 after purchasing an additional 185 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its stake in shares of Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock valued at $2,687,000 after purchasing an additional 176 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $539.78 on Wednesday. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The company’s fifty day moving average price is $503.69 and its two-hundred day moving average price is $503.45.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, June 23rd.

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.