PAX Financial Group LLC Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

PAX Financial Group LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 10.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,755 shares of the exchange traded fund’s stock after selling 201 shares during the quarter. PAX Financial Group LLC’s holdings in Invesco QQQ were worth $823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in QQQ. NWI Management LP increased its position in shares of Invesco QQQ by 121.6% during the fourth quarter. NWI Management LP now owns 648,000 shares of the exchange traded fund’s stock worth $331,277,000 after purchasing an additional 3,648,000 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Invesco QQQ by 55,795.2% during the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. Senator Investment Group LP purchased a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $679,936,000. Spear Holdings RSC Ltd purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $474,600,000. Finally, Asset Planning Services Inc. LA ADV increased its position in shares of Invesco QQQ by 100,517.9% during the first quarter. Asset Planning Services Inc. LA ADV now owns 932,728 shares of the exchange traded fund’s stock worth $437,375,000 after purchasing an additional 931,801 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $556.21 on Tuesday. The business has a fifty day moving average of $528.46 and a two-hundred day moving average of $505.81. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $559.98.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a 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.