Schrum Private Wealth Management LLC Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Schrum Private Wealth Management LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 44.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,176 shares of the exchange traded fund’s stock after selling 936 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Invesco QQQ were worth $601,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. SOA Wealth Advisors LLC. grew its stake in Invesco QQQ by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 17,369 shares of the exchange traded fund’s stock worth $8,477,000 after purchasing an additional 46 shares during the period. Pettinga Financial Advisors LLC raised its holdings in Invesco QQQ by 13.6% in the third quarter. Pettinga Financial Advisors LLC now owns 15,475 shares of the exchange traded fund’s stock worth $7,553,000 after buying an additional 1,854 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Invesco QQQ by 5.0% during the third quarter. Harbor Capital Advisors Inc. now owns 589 shares of the exchange traded fund’s stock valued at $287,000 after acquiring an additional 28 shares in the last quarter. QRG Capital Management Inc. lifted its position in Invesco QQQ by 5.6% in the 3rd quarter. QRG Capital Management Inc. now owns 5,569 shares of the exchange traded fund’s stock valued at $2,718,000 after acquiring an additional 294 shares in the last quarter. Finally, Focused Wealth Management Inc increased its holdings in shares of Invesco QQQ by 11.3% in the 3rd quarter. Focused Wealth Management Inc now owns 134,251 shares of the exchange traded fund’s stock worth $65,524,000 after purchasing an additional 13,641 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $502.01 on Thursday. The stock’s fifty day moving average price is $520.28 and its 200-day moving average price is $503.86. Invesco QQQ has a 1 year low of $413.07 and a 1 year high of $540.81. The company has a market cap of $316.39 billion, a P/E ratio of 33.43 and a beta of 1.11.

Invesco QQQ Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date was Monday, December 23rd.

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.