Destiny Wealth Partners LLC Lowers Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Destiny Wealth Partners LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 3.0% in the first quarter, HoldingsChannel.com reports. The fund owned 15,279 shares of the exchange traded fund’s stock after selling 465 shares during the period. Invesco QQQ accounts for 1.1% of Destiny Wealth Partners LLC’s holdings, making the stock its 29th largest position. Destiny Wealth Partners LLC’s holdings in Invesco QQQ were worth $7,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QQQ. PayPay Securities Corp boosted its stake in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 36 shares during the period. Bridge Generations Wealth Management LLC purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $35,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $36,000. Roxbury Financial LLC purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $51,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $529.92 on Monday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $540.81. The firm has a market capitalization of $332.07 billion, a PE ratio of 32.66 and a beta of 1.11. The stock’s 50-day simple moving average is $483.20 and its 200-day simple moving average is $501.85.

Invesco QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th were given a dividend of $0.7157 per share. The ex-dividend date of this dividend was Monday, March 24th.

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.