Western Wealth Management LLC Sells 139,913 Shares of Invesco QQQ (NASDAQ:QQQ)

Western Wealth Management LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 97.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,978 shares of the exchange traded fund’s stock after selling 139,913 shares during the period. Western Wealth Management LLC’s holdings in Invesco QQQ were worth $1,522,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in QQQ. Synergy Investment Management LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at about $723,000. Grant Private Wealth Management Inc bought a new position in shares of Invesco QQQ during the fourth quarter valued at about $815,000. Tandem Investment Partners LLC bought a new position in shares of Invesco QQQ during the fourth quarter valued at about $4,623,000. Gemsstock Ltd. raised its stake in shares of Invesco QQQ by 266.4% during the fourth quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock valued at $150,046,000 after acquiring an additional 213,400 shares during the last quarter. Finally, Wescott Financial Advisory Group LLC raised its stake in shares of Invesco QQQ by 1.8% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund’s stock valued at $75,071,000 after acquiring an additional 2,600 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.2%

Shares of NASDAQ:QQQ opened at $514.00 on Friday. The company has a market cap of $322.10 billion, a price-to-earnings ratio of 30.62 and a beta of 1.11. The company has a 50-day moving average price of $474.14 and a 200-day moving average price of $500.80. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $540.81.

Invesco QQQ Cuts Dividend

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