Zhang Financial LLC Trims Position in Invesco QQQ (NASDAQ:QQQ)

Zhang Financial LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ) by 6.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,372 shares of the exchange traded fund’s stock after selling 310 shares during the quarter. Zhang Financial LLC’s holdings in Invesco QQQ were worth $1,790,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its position in Invesco QQQ by 156,045.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 43,491,085 shares of the exchange traded fund’s stock valued at $11,580,806,000 after purchasing an additional 43,463,232 shares during the period. International Assets Investment Management LLC increased its position in Invesco QQQ by 40,957.3% during the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock valued at $11,602,698,000 after purchasing an additional 28,263,426 shares during the period. Morgan Stanley increased its position in Invesco QQQ by 10.0% during the 4th quarter. Morgan Stanley now owns 16,815,487 shares of the exchange traded fund’s stock valued at $4,477,628,000 after purchasing an additional 1,533,114 shares during the period. Barclays PLC increased its position in Invesco QQQ by 113.5% during the 2nd quarter. Barclays PLC now owns 5,777,618 shares of the exchange traded fund’s stock valued at $2,134,368,000 after purchasing an additional 48,423,350 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Invesco QQQ by 1.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,531,165 shares of the exchange traded fund’s stock valued at $1,623,380,000 after purchasing an additional 52,019 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.8 %

NASDAQ QQQ traded down $7.47 during trading on Friday, reaching $415.94. 48,828,368 shares of the company’s stock traded hands, compared to its average volume of 45,632,383. The company’s 50 day simple moving average is $438.05 and its two-hundred day simple moving average is $407.51. Invesco QQQ has a 12-month low of $309.89 and a 12-month high of $449.34.

Invesco QQQ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. This represents a $2.29 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Monday, March 18th.

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.