Williams Jones Wealth Management LLC. Trims Holdings in Invesco QQQ (NASDAQ:QQQ)

Williams Jones Wealth Management LLC. trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 55.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,575 shares of the exchange traded fund’s stock after selling 14,468 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Invesco QQQ were worth $5,917,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. PayPay Securities Corp lifted its holdings in shares of Invesco QQQ by 276.9% in the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 36 shares in the last quarter. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Invesco QQQ in the 4th quarter worth approximately $36,000. Roxbury Financial LLC purchased a new stake in Invesco QQQ in the 4th quarter worth approximately $37,000. Finally, Hoese & Co LLP boosted its holdings in Invesco QQQ by 32.3% in the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $520.27 on Wednesday. The firm has a market capitalization of $326.03 billion, a P/E ratio of 30.62 and a beta of 1.11. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The company has a fifty day moving average price of $472.85 and a 200-day moving average price of $500.53.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors 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.