Avaii Wealth Management LLC Lowers Stock Position in Invesco QQQ (NASDAQ:QQQ)

Avaii Wealth Management LLC trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,499 shares of the exchange traded fund’s stock after selling 454 shares during the period. Invesco QQQ comprises about 2.4% of Avaii Wealth Management LLC’s holdings, making the stock its 15th biggest position. Avaii Wealth Management LLC’s holdings in Invesco QQQ were worth $4,454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CRA Financial Services LLC raised its position in shares of Invesco QQQ by 2.8% during the 1st quarter. CRA Financial Services LLC now owns 39,751 shares of the exchange traded fund’s stock worth $18,640,000 after purchasing an additional 1,086 shares during the last quarter. Opal Wealth Advisors LLC boosted its position in Invesco QQQ by 22.0% during the 1st quarter. Opal Wealth Advisors LLC now owns 1,149 shares of the exchange traded fund’s stock worth $539,000 after purchasing an additional 207 shares during the period. Robbins Farley boosted its position in Invesco QQQ by 835.6% during the 1st quarter. Robbins Farley now owns 9,268 shares of the exchange traded fund’s stock worth $4,346,000 after purchasing an additional 10,528 shares during the period. Destiny Capital Corp CO boosted its position in Invesco QQQ by 70.7% during the 1st quarter. Destiny Capital Corp CO now owns 28,234 shares of the exchange traded fund’s stock worth $13,239,000 after purchasing an additional 11,695 shares during the period. Finally, Tritonpoint Wealth LLC boosted its position in Invesco QQQ by 5.2% during the 1st quarter. Tritonpoint Wealth LLC now owns 5,379 shares of the exchange traded fund’s stock worth $2,526,000 after purchasing an additional 264 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 1.3%

Shares of Invesco QQQ stock opened at $526.96 on Friday. The company has a fifty day moving average price of $492.58 and a 200 day moving average price of $502.76. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $540.81. The stock has a market cap of $330.22 billion, a price-to-earnings ratio of 32.66 and a beta of 1.11.

Invesco QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

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.