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

Drive Wealth Management LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQFree Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,418 shares of the exchange traded fund’s stock after selling 108 shares during the period. Drive Wealth Management LLC’s holdings in Invesco QQQ were worth $991,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QQQ. Moneta Group Investment Advisors LLC grew its holdings in Invesco QQQ by 156,045.1% during 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 acquiring an additional 43,463,232 shares in the last quarter. Morgan Stanley lifted its position in shares of Invesco QQQ by 10.0% during the 4th quarter. Morgan Stanley now owns 16,815,487 shares of the exchange traded fund’s stock worth $4,477,628,000 after purchasing an additional 1,533,114 shares during the last quarter. Barclays PLC lifted its position in shares of Invesco QQQ by 113.5% during the 2nd quarter. Barclays PLC now owns 5,777,618 shares of the exchange traded fund’s stock worth $2,134,368,000 after purchasing an additional 48,423,350 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Invesco QQQ by 1.2% during the third quarter. Envestnet Asset Management Inc. now owns 4,531,165 shares of the exchange traded fund’s stock worth $1,623,380,000 after purchasing an additional 52,019 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Invesco QQQ by 6.1% in the third quarter. Ameriprise Financial Inc. now owns 4,259,295 shares of the exchange traded fund’s stock valued at $1,530,696,000 after buying an additional 243,305 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 1.1 %

Invesco QQQ stock traded down $4.88 during midday trading on Tuesday, reaching $440.07. The company’s stock had a trading volume of 30,873,588 shares, compared to its average volume of 44,653,508. The business has a 50-day simple moving average of $435.38 and a 200-day simple moving average of $401.29. Invesco QQQ has a fifty-two week low of $309.89 and a fifty-two week high of $449.34.

Invesco QQQ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. This represents a $2.29 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, March 18th.

Invesco QQQ Profile

(Free Report)

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.

See Also

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 (NASDAQ:QQQFree Report).

Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

Receive News & Ratings for Invesco QQQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ and related companies with MarketBeat.com's FREE daily email newsletter.