Summit Global Investments Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Summit Global Investments trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,604 shares of the exchange traded fund’s stock after selling 12,509 shares during the quarter. Invesco QQQ comprises about 2.4% of Summit Global Investments’ investment portfolio, making the stock its 6th largest holding. Summit Global Investments’ holdings in Invesco QQQ were worth $37,104,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Red Tortoise LLC increased its holdings in Invesco QQQ by 370.0% in the 4th quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after buying an additional 74 shares during the period. Friedenthal Financial bought a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $41,000. Bear Mountain Capital Inc. bought a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $42,000. Core Wealth Advisors Inc. boosted its position in Invesco QQQ by 33.3% during the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after buying an additional 30 shares during the period. Finally, Hexagon Capital Partners LLC acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $53,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 1.1 %

NASDAQ:QQQ traded up $4.83 during mid-day trading on Thursday, hitting $426.35. 29,941,534 shares of the company’s stock were exchanged, compared to its average volume of 45,788,883. Invesco QQQ has a fifty-two week low of $315.11 and a fifty-two week high of $449.34. The company has a 50 day simple moving average of $436.78 and a 200-day simple moving average of $411.61.

Invesco QQQ Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were given a $0.5735 dividend. The ex-dividend date was Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.54%.

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.