Ritholtz Wealth Management Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Ritholtz Wealth Management lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 85.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,605 shares of the exchange traded fund’s stock after selling 361,489 shares during the period. Invesco QQQ accounts for about 0.8% of Ritholtz Wealth Management’s holdings, making the stock its 19th largest holding. Ritholtz Wealth Management’s holdings in Invesco QQQ were worth $27,950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in QQQ. Proficio Capital Partners LLC boosted its stake in Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Invesco QQQ by 20.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock valued at $2,300,993,000 after purchasing an additional 756,990 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Invesco QQQ by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock valued at $1,593,354,000 after purchasing an additional 27,115 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Invesco QQQ by 2.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock valued at $1,239,886,000 after purchasing an additional 52,235 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Invesco QQQ by 34.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,199,820 shares of the exchange traded fund’s stock valued at $1,124,614,000 after purchasing an additional 568,120 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.3%

Shares of QQQ opened at $526.96 on Friday. The business’s fifty day simple moving average is $492.58 and its two-hundred day simple moving average is $502.75. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81. The company has a market cap of $330.22 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.