Prime Capital Investment Advisors LLC reduced its holdings in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 48.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,352 shares of the exchange traded fund’s stock after selling 16,913 shares during the quarter. Invesco QQQ Trust makes up about 1.0% of Prime Capital Investment Advisors LLC’s holdings, making the stock its 27th largest position. Prime Capital Investment Advisors LLC’s holdings in Invesco QQQ Trust were worth $3,297,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Sontag Advisory LLC bought a new stake in shares of Invesco QQQ Trust in the fourth quarter valued at $46,000. CX Institutional raised its stake in shares of Invesco QQQ Trust by 1,811.1% in the fourth quarter. CX Institutional now owns 344 shares of the exchange traded fund’s stock valued at $53,000 after buying an additional 326 shares during the period. Capital Financial Planning LLC bought a new stake in shares of Invesco QQQ Trust in the fourth quarter valued at $55,000. LS Investment Advisors LLC raised its stake in shares of Invesco QQQ Trust by 25.0% in the fourth quarter. LS Investment Advisors LLC now owns 375 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 75 shares during the period. Finally, Spectrum Management Group Inc. raised its stake in shares of Invesco QQQ Trust by 29.3% in the first quarter. Spectrum Management Group Inc. now owns 433 shares of the exchange traded fund’s stock valued at $78,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.
Shares of QQQ opened at $186.50 on Wednesday. Invesco QQQ Trust has a 1 year low of $143.46 and a 1 year high of $187.53.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be paid a $0.3242 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $1.30 annualized dividend and a dividend yield of 0.70%.
TRADEMARK VIOLATION WARNING: “Invesco QQQ Trust (QQQ) Position Reduced by Prime Capital Investment Advisors LLC” was posted by Macon Daily and is the property of of Macon Daily. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://macondaily.com/2019/04/17/invesco-qqq-trust-qqq-position-reduced-by-prime-capital-investment-advisors-llc.html.
Invesco QQQ Trust 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.
Further Reading: How Do Mutual Funds Work?
Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).
Receive News & Ratings for Invesco QQQ Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ Trust and related companies with MarketBeat.com's FREE daily email newsletter.