Modern Wealth Management LLC Sells 4,704 Shares of Invesco QQQ (NASDAQ:QQQ)

Modern Wealth Management LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 210,631 shares of the exchange traded fund’s stock after selling 4,704 shares during the quarter. Invesco QQQ makes up 3.9% of Modern Wealth Management LLC’s portfolio, making the stock its 2nd largest position. Modern Wealth Management LLC’s holdings in Invesco QQQ were worth $111,476,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QQQ. SOA Wealth Advisors LLC. lifted its holdings in Invesco QQQ by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock worth $8,477,000 after buying an additional 46 shares in the last quarter. Davis R M Inc. boosted its stake in shares of Invesco QQQ by 3.2% in the 3rd quarter. Davis R M Inc. now owns 3,789 shares of the exchange traded fund’s stock valued at $1,849,000 after purchasing an additional 118 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Invesco QQQ by 95.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,145 shares of the exchange traded fund’s stock worth $559,000 after buying an additional 558 shares during the last quarter. Alliance Wealth Management Group lifted its holdings in Invesco QQQ by 30.2% in the third quarter. Alliance Wealth Management Group now owns 2,562 shares of the exchange traded fund’s stock valued at $1,250,000 after buying an additional 595 shares during the period. Finally, Truvestments Capital LLC boosted its stake in Invesco QQQ by 506.7% in the third quarter. Truvestments Capital LLC now owns 35,646 shares of the exchange traded fund’s stock valued at $17,398,000 after acquiring an additional 29,771 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $490.66 on Tuesday. The firm has a fifty day moving average of $511.00 and a two-hundred day moving average of $504.66. The stock has a market capitalization of $309.24 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11. Invesco QQQ has a 52 week low of $413.07 and a 52 week high of $540.81.

Invesco QQQ Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th will be issued a dividend of $0.7157 per share. The ex-dividend date of this dividend is 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.