Invesco QQQ (NASDAQ:QQQ) Stock Position Trimmed by KFG Wealth Management LLC

KFG Wealth Management LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 14.1% during the 4th quarter, Holdings Channel reports. The firm owned 37,355 shares of the exchange traded fund’s stock after selling 6,146 shares during the period. Invesco QQQ makes up about 7.0% of KFG Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding. KFG Wealth Management LLC’s holdings in Invesco QQQ were worth $15,298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Redmont Wealth Advisors LLC boosted its position in Invesco QQQ by 14.1% in the fourth quarter. Redmont Wealth Advisors LLC now owns 2,896 shares of the exchange traded fund’s stock worth $1,186,000 after purchasing an additional 358 shares during the last quarter. Beaumont Financial Advisors LLC lifted its position in shares of Invesco QQQ by 6.9% during the 4th quarter. Beaumont Financial Advisors LLC now owns 5,067 shares of the exchange traded fund’s stock valued at $2,075,000 after buying an additional 328 shares during the last quarter. Opes Wealth Management LLC purchased a new position in shares of Invesco QQQ during the 4th quarter valued at $248,000. Sterling Financial Planning Inc. lifted its position in shares of Invesco QQQ by 0.4% during the 4th quarter. Sterling Financial Planning Inc. now owns 6,735 shares of the exchange traded fund’s stock valued at $2,758,000 after buying an additional 27 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in shares of Invesco QQQ by 184.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 6,058 shares of the exchange traded fund’s stock valued at $2,481,000 after buying an additional 3,932 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 2.1 %

Shares of NASDAQ QQQ traded down $8.76 during trading on Friday, reaching $414.65. 74,953,695 shares of the stock traded hands, compared to its average volume of 46,014,188. Invesco QQQ has a 52-week low of $309.89 and a 52-week high of $449.34. The company has a 50-day moving average of $438.05 and a 200-day moving average of $407.51.

Invesco QQQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.55%.

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.