Balboa Wealth Partners Sells 1,194 Shares of Invesco QQQ (NASDAQ:QQQ)

Balboa Wealth Partners lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 12.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,037 shares of the exchange traded fund’s stock after selling 1,194 shares during the period. Invesco QQQ accounts for about 0.9% of Balboa Wealth Partners’ portfolio, making the stock its 22nd biggest position. Balboa Wealth Partners’ holdings in Invesco QQQ were worth $3,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. C2C Wealth Management LLC increased its holdings in Invesco QQQ by 4.2% in the 1st quarter. C2C Wealth Management LLC now owns 1,482 shares of the exchange traded fund’s stock valued at $695,000 after buying an additional 60 shares during the period. Retirement Guys Formula LLC lifted its holdings in shares of Invesco QQQ by 18.9% during the 1st quarter. Retirement Guys Formula LLC now owns 8,339 shares of the exchange traded fund’s stock worth $3,910,000 after acquiring an additional 1,323 shares during the period. AIFG Consultants Ltd. acquired a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $362,000. IMG Wealth Management Inc. boosted its position in shares of Invesco QQQ by 1.4% during the 1st quarter. IMG Wealth Management Inc. now owns 12,208 shares of the exchange traded fund’s stock worth $5,725,000 after acquiring an additional 169 shares in the last quarter. Finally, YHB Investment Advisors Inc. increased its stake in Invesco QQQ by 6.7% in the first quarter. YHB Investment Advisors Inc. now owns 7,190 shares of the exchange traded fund’s stock valued at $3,372,000 after acquiring an additional 452 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 1.5%

Shares of QQQ opened at $539.78 on Wednesday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81. The business’s fifty day moving average is $503.69 and its 200-day moving average is $503.45.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be paid a $0.5911 dividend. This represents a $2.36 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, June 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.