Pinkerton Retirement Specialists LLC Cuts Position in Invesco QQQ (NASDAQ:QQQ)

Pinkerton Retirement Specialists LLC lessened its stake in Invesco QQQ (NASDAQ:QQQ) by 86.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,891 shares of the exchange traded fund’s stock after selling 52,475 shares during the quarter. Pinkerton Retirement Specialists LLC’s holdings in Invesco QQQ were worth $4,034,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Proficio Capital Partners LLC increased its holdings in shares of Invesco QQQ by 51,292.3% in the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock valued at $5,879,434,000 after purchasing an additional 11,478,188 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Invesco QQQ by 20.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,500,368 shares of the exchange traded fund’s stock valued at $2,300,993,000 after purchasing an additional 756,990 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Invesco QQQ by 47,853.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock valued at $2,103,184,000 after purchasing an additional 4,105,389 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Invesco QQQ by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock valued at $1,593,354,000 after purchasing an additional 27,115 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Invesco QQQ by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,425,300 shares of the exchange traded fund’s stock valued at $1,239,886,000 after purchasing an additional 52,235 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.4%

Shares of QQQ opened at $513.04 on Thursday. The company has a 50-day simple moving average of $473.52 and a 200-day simple moving average of $500.61. The company has a market capitalization of $321.50 billion, a PE ratio of 30.62 and a beta of 1.11. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

Invesco QQQ 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.