West Michigan Advisors LLC Sells 316 Shares of Invesco QQQ (NASDAQ:QQQ)

West Michigan Advisors LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ) by 18.3% in the 1st quarter, HoldingsChannel reports. The firm owned 1,407 shares of the exchange traded fund’s stock after selling 316 shares during the quarter. West Michigan Advisors LLC’s holdings in Invesco QQQ were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ during the first quarter worth $2,775,904,000. NWI Management LP increased its position in Invesco QQQ by 121.6% in 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 during the period. GAMMA Investing LLC increased its position in Invesco QQQ by 55,795.2% in 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 during the period. Senator Investment Group LP bought a new stake in Invesco QQQ during the 4th quarter worth about $679,936,000. Finally, Spear Holdings RSC Ltd acquired a new position in Invesco QQQ during the 1st quarter valued at about $474,600,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.8%

Shares of NASDAQ QQQ opened at $564.10 on Tuesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.63. The firm’s 50-day moving average is $545.11 and its 200-day moving average is $510.97.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were issued a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date was 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.