Absolute Capital Management LLC Lowers Stake in Invesco QQQ (NASDAQ:QQQ)

Absolute Capital Management LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,700 shares of the exchange traded fund’s stock after selling 1,049 shares during the period. Invesco QQQ accounts for about 4.3% of Absolute Capital Management LLC’s portfolio, making the stock its 5th biggest position. Absolute Capital Management LLC’s holdings in Invesco QQQ were worth $4,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in QQQ. International Assets Investment Management LLC increased its stake in shares of Invesco QQQ by 40,957.3% in 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 last quarter. Envestnet Asset Management Inc. increased its stake in shares of Invesco QQQ by 1.2% in 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 last quarter. Ameriprise Financial Inc. increased its stake in shares of Invesco QQQ by 6.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock valued at $1,530,696,000 after purchasing an additional 243,305 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Invesco QQQ by 5.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,312,133 shares of the exchange traded fund’s stock valued at $828,368,000 after purchasing an additional 114,095 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Invesco QQQ by 2.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,852,000 shares of the exchange traded fund’s stock valued at $663,516,000 after purchasing an additional 43,000 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $431.00 on Friday. Invesco QQQ has a twelve month low of $315.05 and a twelve month high of $449.34. The stock’s fifty day simple moving average is $436.88 and its 200 day simple moving average is $410.40.

Invesco QQQ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be issued a $0.5735 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a yield of 0.53%.

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.