Gries Financial LLC Has $5.08 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Gries Financial LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ) by 19.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 10,843 shares of the exchange traded fund’s stock after selling 2,614 shares during the period. Invesco QQQ makes up 1.0% of Gries Financial LLC’s portfolio, making the stock its 14th biggest position. Gries Financial LLC’s holdings in Invesco QQQ were worth $5,084,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. grew its position in shares of Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock worth $2,300,993,000 after buying an additional 756,990 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Invesco QQQ by 34.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund’s stock worth $1,124,614,000 after buying an additional 568,120 shares during the last quarter. GAMMA Investing LLC increased its holdings in 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 buying an additional 1,868,580 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Invesco QQQ by 1.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,342,830 shares of the exchange traded fund’s stock valued at $629,680,000 after purchasing an additional 14,017 shares during the last quarter. Finally, Senator Investment Group LP acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $679,936,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $564.92 on Monday. The firm has a 50-day moving average of $534.38 and a 200-day moving average of $507.13. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $565.03.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. The ex-dividend date is Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.42%.

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.