49 Wealth Management LLC Sells 812 Shares of Invesco QQQ (NASDAQ:QQQ)

49 Wealth Management LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 28.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,079 shares of the exchange traded fund’s stock after selling 812 shares during the quarter. 49 Wealth Management LLC’s holdings in Invesco QQQ were worth $975,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ in the fourth quarter worth about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $36,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA purchased a new position in Invesco QQQ during the 4th quarter valued at $57,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 0.8%

Shares of Invesco QQQ stock opened at $552.03 on Tuesday. The stock’s fifty day moving average is $521.12 and its two-hundred day moving average is $504.84. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $557.20.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be paid a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, June 23rd.

About Invesco QQQ

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.