Financial Management Network Inc. Cuts Position in Invesco QQQ (NASDAQ:QQQ)

Financial Management Network Inc. lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,233 shares of the exchange traded fund’s stock after selling 654 shares during the period. Financial Management Network Inc.’s holdings in Invesco QQQ were worth $2,714,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QQQ. PayPay Securities Corp raised its stake in shares of Invesco QQQ by 276.9% during the fourth quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter valued at approximately $37,000. Hoese & Co LLP raised its stake in shares of Invesco QQQ by 32.3% during the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the period. Legacy Bridge LLC raised its stake in shares of Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares during the period. Finally, BNP Paribas purchased a new stake in shares of Invesco QQQ during the third quarter valued at approximately $62,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.2 %

QQQ opened at $539.37 on Wednesday. The firm’s 50 day moving average is $523.07 and its 200-day moving average is $499.53. Invesco QQQ has a 52-week low of $413.07 and a 52-week high of $540.00.

Invesco QQQ Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

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.