Wellington Shields Capital Management LLC Sells 353 Shares of Invesco QQQ (NASDAQ:QQQ)

Wellington Shields Capital Management LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 38.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 566 shares of the exchange traded fund’s stock after selling 353 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Invesco QQQ were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Atwater Malick LLC acquired a new position in Invesco QQQ in the first quarter worth $293,000. Bank Hapoalim BM increased its position in Invesco QQQ by 6.3% in the fourth quarter. Bank Hapoalim BM now owns 77,333 shares of the exchange traded fund’s stock worth $31,669,000 after purchasing an additional 4,549 shares during the period. Aviance Capital Partners LLC raised its holdings in Invesco QQQ by 29.7% during the 4th quarter. Aviance Capital Partners LLC now owns 4,514 shares of the exchange traded fund’s stock worth $1,848,000 after purchasing an additional 1,033 shares during the last quarter. GenWealth Group Inc. lifted its position in Invesco QQQ by 5.8% during the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after purchasing an additional 2,325 shares during the period. Finally, Scarborough Advisors LLC boosted its stake in shares of Invesco QQQ by 73.3% in the 3rd quarter. Scarborough Advisors LLC now owns 1,374 shares of the exchange traded fund’s stock valued at $492,000 after purchasing an additional 581 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ stock traded up $4.08 during midday trading on Wednesday, reaching $501.85. The company’s stock had a trading volume of 12,945,934 shares, compared to its average volume of 40,084,652. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $501.89. The business’s 50-day simple moving average is $464.03 and its 200-day simple moving average is $440.98.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th will be issued a dividend of $0.7615 per share. The ex-dividend date is Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.61%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57.

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.