Capital Wealth Management LLC Has $775,000 Stake in Invesco QQQ (NASDAQ:QQQ)

Capital Wealth Management LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,653 shares of the exchange traded fund’s stock after selling 35 shares during the period. Invesco QQQ accounts for approximately 0.3% of Capital Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Capital Wealth Management LLC’s holdings in Invesco QQQ were worth $775,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Bridge Generations Wealth Management LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $36,000. Midwest Capital Advisors LLC acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $51,000. Banque Transatlantique SA acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $57,000. Finally, Perritt Capital Management Inc acquired a new position in shares of Invesco QQQ in the fourth quarter valued at $61,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 1.0%

NASDAQ:QQQ opened at $529.08 on Wednesday. Invesco QQQ has a one year low of $402.39 and a one year high of $540.81. The firm’s fifty day moving average price is $496.20 and its two-hundred day moving average price is $503.08.

Invesco QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 24th were issued a $0.7157 dividend. The ex-dividend date of this dividend was Monday, March 24th.

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.