Benin Management CORP Cuts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Benin Management CORP lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 3.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,800 shares of the exchange traded fund’s stock after selling 891 shares during the quarter. Invesco QQQ makes up approximately 3.6% of Benin Management CORP’s portfolio, making the stock its 5th largest holding. Benin Management CORP’s holdings in Invesco QQQ were worth $13,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in QQQ. Hoese & Co LLP grew its position in shares of Invesco QQQ by 32.3% in the fourth 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 last quarter. Legacy Bridge LLC increased its position in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after buying an additional 45 shares during the period. BNP Paribas acquired a new position in shares of Invesco QQQ during the third quarter worth approximately $62,000. Brooklyn Investment Group acquired a new stake in shares of Invesco QQQ in the fourth quarter worth $69,000. Finally, Pacifica Partners Inc. bought a new position in Invesco QQQ during the fourth quarter worth $73,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $529.63 on Friday. The firm has a fifty day moving average price of $517.20 and a two-hundred day moving average price of $493.09. Invesco QQQ has a fifty-two week low of $413.07 and a fifty-two week high of $539.15.

Invesco QQQ Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

Invesco QQQ 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.