Madison Park Capital Advisors LLC Sells 80 Shares of Invesco QQQ (NASDAQ:QQQ)

Madison Park Capital Advisors LLC lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,464 shares of the exchange traded fund’s stock after selling 80 shares during the quarter. Invesco QQQ accounts for approximately 2.2% of Madison Park Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Madison Park Capital Advisors LLC’s holdings in Invesco QQQ were worth $2,562,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wilkins Miller Wealth Management LLC bought a new position in shares of Invesco QQQ during the 4th quarter worth approximately $1,018,000. Synergy Investment Management LLC bought a new position in shares of Invesco QQQ during the 4th quarter worth approximately $723,000. Grant Private Wealth Management Inc bought a new position in shares of Invesco QQQ during the 4th quarter worth approximately $815,000. Tandem Investment Partners LLC bought a new position in shares of Invesco QQQ during the 4th quarter worth approximately $4,623,000. Finally, Gemsstock Ltd. lifted its position in shares of Invesco QQQ by 266.4% during the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund’s stock worth $150,046,000 after buying an additional 213,400 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $548.09 on Friday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $549.99. The company’s 50 day moving average price is $509.76 and its two-hundred day moving average price is $504.06.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%.

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.