Teamwork Financial Advisors LLC Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Teamwork Financial Advisors LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,408 shares of the exchange traded fund’s stock after selling 274 shares during the period. Teamwork Financial Advisors LLC’s holdings in Invesco QQQ were worth $1,070,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Retirement Guys Formula LLC grew its stake in shares of Invesco QQQ by 284.5% in the 1st quarter. Retirement Guys Formula LLC now owns 6,637 shares of the exchange traded fund’s stock valued at $2,947,000 after buying an additional 4,911 shares during the period. Oak Harvest Investment Services grew its stake in shares of Invesco QQQ by 30.2% in the 1st quarter. Oak Harvest Investment Services now owns 1,851 shares of the exchange traded fund’s stock valued at $822,000 after buying an additional 429 shares during the period. Park Edge Advisors LLC purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $337,000. Financial Perspectives Inc lifted its holdings in shares of Invesco QQQ by 3.2% in the 1st quarter. Financial Perspectives Inc now owns 4,932 shares of the exchange traded fund’s stock worth $2,190,000 after acquiring an additional 153 shares during the last quarter. Finally, Kaye Capital Management lifted its holdings in shares of Invesco QQQ by 26.1% in the 1st quarter. Kaye Capital Management now owns 38,397 shares of the exchange traded fund’s stock worth $17,049,000 after acquiring an additional 7,940 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $491.38 on Friday. The firm’s 50 day moving average price is $459.98 and its 200-day moving average price is $438.63. Invesco QQQ has a one year low of $342.35 and a one year high of $491.38.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th will be issued a $0.7615 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, June 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.