PGIM Custom Harvest LLC Sells 3,408 Shares of Invesco QQQ $QQQ

PGIM Custom Harvest LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 5.3% during the first quarter, HoldingsChannel.com reports. The firm owned 60,793 shares of the exchange traded fund’s stock after selling 3,408 shares during the period. Invesco QQQ makes up approximately 0.7% of PGIM Custom Harvest LLC’s portfolio, making the stock its 29th biggest holding. PGIM Custom Harvest LLC’s holdings in Invesco QQQ were worth $28,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in QQQ. Wilkins Miller Wealth Management LLC bought a new stake in shares of Invesco QQQ during the 4th quarter valued at about $1,018,000. Sentinus LLC raised its stake in shares of Invesco QQQ by 17.6% in the fourth quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund’s stock worth $3,307,000 after purchasing an additional 970 shares during the last quarter. Sendero Wealth Management LLC purchased a new stake in shares of Invesco QQQ in the first quarter worth approximately $273,000. Cary Street Partners Financial LLC purchased a new stake in shares of Invesco QQQ in the fourth quarter worth approximately $10,052,000. Finally, Baird Financial Group Inc. increased its position in shares of Invesco QQQ by 4.0% during the fourth quarter. Baird Financial Group Inc. now owns 327,433 shares of the exchange traded fund’s stock valued at $167,394,000 after acquiring an additional 12,627 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.4%

Shares of QQQ opened at $569.28 on Wednesday. The stock has a 50 day moving average of $555.76 and a 200 day moving average of $514.82. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $583.32.

Invesco QQQ Cuts Dividend

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