Ridgepath Capital Management LLC Cuts Position in Invesco QQQ $QQQ

Ridgepath Capital Management LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 94.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 960 shares of the exchange traded fund’s stock after selling 17,204 shares during the period. Ridgepath Capital Management LLC’s holdings in Invesco QQQ were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ in the 1st quarter valued at $51,000. Blume Capital Management Inc. raised its position in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 2,536 shares during the period. Atlantic Private Wealth LLC lifted its stake in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 120 shares in the last quarter. Finally, Putney Financial Group LLC purchased a new stake in shares of Invesco QQQ in the fourth quarter worth about $67,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.6%

QQQ stock opened at $584.08 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $584.88. The stock has a 50-day simple moving average of $567.63 and a 200-day simple moving average of $519.99.

Invesco QQQ Cuts Dividend

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

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.