Cornerstone Planning Group LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,604 shares of the exchange traded fund's stock after selling 10,493 shares during the quarter. Invesco QQQ makes up about 15.6% of Cornerstone Planning Group LLC's investment portfolio, making the stock its largest position. Cornerstone Planning Group LLC's holdings in Invesco QQQ were worth $63,558,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of QQQ. Hoese & Co LLP lifted its position in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund's stock valued at $42,000 after buying an additional 20 shares in the last quarter. Legacy Bridge LLC increased its position in shares of Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund's stock worth $59,000 after purchasing an additional 45 shares during the last quarter. BNP Paribas acquired a new stake in shares of Invesco QQQ during the 3rd quarter worth about $62,000. Brooklyn Investment Group acquired a new position in Invesco QQQ in the 4th quarter valued at about $69,000. Finally, Ritter Daniher Financial Advisory LLC DE grew its position in Invesco QQQ by 75.9% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 146 shares of the exchange traded fund's stock valued at $71,000 after acquiring an additional 63 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.
Shares of QQQ opened at $522.92 on Monday. The stock has a 50-day simple moving average of $521.26 and a 200-day simple moving average of $495.67. Invesco QQQ has a 1 year low of $413.07 and a 1 year high of $539.15.
The business also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.
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.
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