Hobbs Group Advisors LLC Has $1.42 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Hobbs Group Advisors LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 32.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,777 shares of the exchange traded fund’s stock after selling 1,305 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Invesco QQQ were worth $1,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SOA Wealth Advisors LLC. boosted its holdings in shares of Invesco QQQ by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock worth $8,477,000 after acquiring an additional 46 shares in the last quarter. FMR LLC raised its position in Invesco QQQ by 1.7% in the 3rd quarter. FMR LLC now owns 778,065 shares of the exchange traded fund’s stock valued at $379,751,000 after purchasing an additional 13,338 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Invesco QQQ by 13.7% in the third quarter. Glenmede Trust Co. NA now owns 29,459 shares of the exchange traded fund’s stock worth $14,378,000 after purchasing an additional 3,553 shares in the last quarter. Fiduciary Trust Co boosted its stake in Invesco QQQ by 4.4% in the third quarter. Fiduciary Trust Co now owns 5,508 shares of the exchange traded fund’s stock worth $2,688,000 after purchasing an additional 230 shares in the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of Invesco QQQ by 4.1% during the third quarter. Financial Counselors Inc. now owns 10,300 shares of the exchange traded fund’s stock worth $5,027,000 after purchasing an additional 410 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 2.6 %

Invesco QQQ stock opened at $468.94 on Friday. Invesco QQQ has a 12-month low of $413.07 and a 12-month high of $540.81. The stock has a 50-day simple moving average of $508.43 and a 200 day simple moving average of $504.77. The stock has a market capitalization of $295.55 billion, a price-to-earnings ratio of 30.74 and a beta of 1.11.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.