Kennicott Capital Management LLC Sells 51,290 Shares of Invesco QQQ (NASDAQ:QQQ)

Kennicott Capital Management LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 42.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,369 shares of the exchange traded fund’s stock after selling 51,290 shares during the period. Invesco QQQ accounts for 18.5% of Kennicott Capital Management LLC’s holdings, making the stock its largest position. Kennicott Capital Management LLC’s holdings in Invesco QQQ were worth $35,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Legacy Bridge LLC grew its stake in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares in the last quarter. BNP Paribas bought a new stake in Invesco QQQ in the 3rd quarter valued at about $62,000. Brooklyn Investment Group acquired a new position in shares of Invesco QQQ during the 4th quarter worth approximately $69,000. Pacifica Partners Inc. bought a new position in shares of Invesco QQQ during the fourth quarter worth approximately $73,000. Finally, Ritter Daniher Financial Advisory LLC DE raised its position in shares of Invesco QQQ by 75.9% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund’s stock valued at $71,000 after buying an additional 63 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $521.74 on Monday. The business’s 50 day simple moving average is $515.94 and its 200 day simple moving average is $492.11. Invesco QQQ has a 1 year low of $409.16 and a 1 year high of $539.15.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 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.