Davis R M Inc. Has $1.34 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Davis R M Inc. cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,265 shares of the exchange traded fund’s stock after selling 144 shares during the period. Davis R M Inc.’s holdings in Invesco QQQ were worth $1,337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Red Tortoise LLC increased its stake in shares of Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after buying an additional 74 shares during the period. Robinson Capital Management LLC acquired a new position in Invesco QQQ during the 4th quarter valued at about $40,000. Friedenthal Financial bought a new position in shares of Invesco QQQ in the 4th quarter valued at about $41,000. Bear Mountain Capital Inc. bought a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $42,000. Finally, Core Wealth Advisors Inc. boosted its stake in Invesco QQQ by 33.3% in the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock valued at $43,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $0.59 during trading hours on Wednesday, reaching $456.39. The company had a trading volume of 10,015,828 shares, compared to its average volume of 43,562,598. Invesco QQQ has a 1-year low of $329.56 and a 1-year high of $456.82. The company has a 50 day moving average of $438.17 and a 200 day moving average of $420.60.

Invesco QQQ Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.5735 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $2.29 annualized dividend and a dividend yield of 0.50%.

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.