Invesco QQQ (NASDAQ:QQQ) Stake Lessened by Financial Management Network Inc.

Financial Management Network Inc. lessened its stake in Invesco QQQ (NASDAQ:QQQ) by 11.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,233 shares of the exchange traded fund’s stock after selling 654 shares during the quarter. Financial Management Network Inc.’s holdings in Invesco QQQ were worth $2,714,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PayPay Securities Corp boosted its holdings in Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 36 shares during the period. Roxbury Financial LLC acquired a new position in Invesco QQQ in the fourth quarter worth $37,000. Hoese & Co LLP boosted its holdings in Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the period. Legacy Bridge LLC boosted its holdings in Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the period. Finally, BNP Paribas acquired a new position in Invesco QQQ in the third quarter worth $62,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.2 %

Invesco QQQ stock opened at $539.37 on Wednesday. The company has a fifty day moving average price of $523.07 and a two-hundred day moving average price of $499.53. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $540.00.

Invesco QQQ Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date 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.