Invesco QQQ (NASDAQ:QQQ) Stock Position Cut by Herbst Group LLC

Herbst Group LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 11,404 shares of the exchange traded fund’s stock after selling 221 shares during the quarter. Invesco QQQ makes up approximately 2.9% of Herbst Group LLC’s portfolio, making the stock its 10th biggest position. Herbst Group LLC’s holdings in Invesco QQQ were worth $4,213,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in shares of Invesco QQQ by 156,045.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 43,491,085 shares of the exchange traded fund’s stock worth $11,580,806,000 after buying an additional 43,463,232 shares during the period. Morgan Stanley grew its stake in shares of Invesco QQQ by 10.0% in the 4th quarter. Morgan Stanley now owns 16,815,487 shares of the exchange traded fund’s stock worth $4,477,628,000 after buying an additional 1,533,114 shares during the last quarter. Kensington Asset Management LLC purchased a new stake in Invesco QQQ during the 1st quarter valued at about $342,079,000. Money Concepts Capital Corp grew its position in Invesco QQQ by 971.1% during the 1st quarter. Money Concepts Capital Corp now owns 951,023 shares of the exchange traded fund’s stock valued at $10,353,000 after purchasing an additional 862,236 shares during the last quarter. Finally, Natixis purchased a new stake in Invesco QQQ during the 4th quarter valued at about $228,207,000. 43.95% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ traded down $2.56 during trading on Tuesday, hitting $368.10. 9,599,187 shares of the company’s stock traded hands, compared to its average volume of 53,370,789. The company’s 50 day simple moving average is $373.20 and its two-hundred day simple moving average is $348.47. Invesco QQQ has a 12-month low of $254.26 and a 12-month high of $387.98.

Invesco QQQ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 19th will be given a $0.5389 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Monday, September 18th.

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.