McElhenny Sheffield Capital Management LLC Cuts Holdings in Invesco QQQ (NASDAQ:QQQ)

McElhenny Sheffield Capital Management LLC decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 96.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,907 shares of the exchange traded fund’s stock after selling 91,050 shares during the period. Invesco QQQ comprises approximately 0.5% of McElhenny Sheffield Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. McElhenny Sheffield Capital Management LLC’s holdings in Invesco QQQ were worth $1,486,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Northeast Investment Management increased its holdings in Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after acquiring an additional 20 shares during the period. Planning Capital Management Corp increased its holdings in shares of Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after purchasing an additional 20 shares during the period. Cardinal Point Capital Management ULC raised its position in shares of Invesco QQQ by 0.5% in the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock worth $1,995,000 after buying an additional 20 shares in the last quarter. Skyline Advisors Inc. boosted its stake in Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after buying an additional 21 shares during the period. Finally, Madden Advisory Services Inc. grew its position in Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after buying an additional 21 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 1.7 %

NASDAQ:QQQ opened at $521.74 on Monday. The business’s 50-day moving average price is $515.94 and its two-hundred day moving average price is $492.11. Invesco QQQ has a twelve month low of $409.16 and a twelve month high of $539.15.

Invesco QQQ Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders 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.