Transce3nd LLC Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Transce3nd LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 92.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 643 shares of the exchange traded fund’s stock after selling 8,288 shares during the period. Transce3nd LLC’s holdings in Invesco QQQ were worth $301,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wilkins Miller Wealth Management LLC purchased a new position in Invesco QQQ in the fourth quarter valued at about $1,018,000. Grant Private Wealth Management Inc acquired a new stake in Invesco QQQ during the fourth quarter worth approximately $815,000. Gemsstock Ltd. boosted its position in Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock worth $150,046,000 after acquiring an additional 213,400 shares during the last quarter. Tandem Investment Partners LLC acquired a new stake in Invesco QQQ during the fourth quarter worth approximately $4,623,000. Finally, Wescott Financial Advisory Group LLC boosted its position in Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund’s stock worth $75,071,000 after acquiring an additional 2,600 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $561.80 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $562.63. The firm’s 50 day moving average price is $532.92 and its 200 day moving average price is $506.84.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 yield of 0.42%. 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.