Welch & Forbes LLC Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Welch & Forbes LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,791 shares of the exchange traded fund’s stock after selling 546 shares during the quarter. Welch & Forbes LLC’s holdings in Invesco QQQ were worth $4,122,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bridge Generations Wealth Management LLC bought a new stake in Invesco QQQ in the fourth quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Invesco QQQ in the 4th quarter valued at approximately $36,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at approximately $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ during the first quarter worth $51,000. Finally, Banque Transatlantique SA bought a new position in Invesco QQQ during the fourth quarter worth $57,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $557.29 on Thursday. The company’s fifty day moving average is $531.45 and its two-hundred day moving average is $506.52. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $560.80.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 23rd.

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.