Cherry Tree Wealth Management LLC Decreases Holdings in Invesco QQQ (NASDAQ:QQQ)

Cherry Tree Wealth Management LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 701 shares of the exchange traded fund’s stock after selling 242 shares during the period. Cherry Tree Wealth Management LLC’s holdings in Invesco QQQ were worth $287,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. IMA Wealth Inc. lifted its position in shares of Invesco QQQ by 1.3% during the 3rd quarter. IMA Wealth Inc. now owns 1,940 shares of the exchange traded fund’s stock worth $695,000 after purchasing an additional 25 shares during the last quarter. S.A. Mason LLC boosted its position in shares of Invesco QQQ by 1.5% in the fourth quarter. S.A. Mason LLC now owns 1,700 shares of the exchange traded fund’s stock valued at $696,000 after acquiring an additional 25 shares during the period. Lauterbach Financial Advisors LLC grew its stake in shares of Invesco QQQ by 0.4% in the fourth quarter. Lauterbach Financial Advisors LLC now owns 5,606 shares of the exchange traded fund’s stock worth $2,296,000 after acquiring an additional 25 shares during the last quarter. Cedrus LLC increased its position in Invesco QQQ by 1.7% during the fourth quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock worth $596,000 after acquiring an additional 25 shares during the period. Finally, Waterfront Wealth Inc. raised its stake in Invesco QQQ by 3.1% during the 4th quarter. Waterfront Wealth Inc. now owns 840 shares of the exchange traded fund’s stock valued at $344,000 after purchasing an additional 25 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ traded down $0.26 on Wednesday, reaching $440.06. 24,685,057 shares of the stock traded hands, compared to its average volume of 45,329,430. The stock’s 50-day moving average price is $436.66 and its 200-day moving average price is $414.00. Invesco QQQ has a 12 month low of $321.32 and a 12 month high of $449.34.

Invesco QQQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were paid a $0.5735 dividend. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, March 18th.

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.