Pier 88 Investment Partners LLC Decreases Position in Invesco QQQ (NASDAQ:QQQ)

Pier 88 Investment Partners LLC reduced its position in shares of Invesco QQQ (NASDAQ:QQQ) by 65.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the exchange traded fund’s stock after selling 5,700 shares during the period. Pier 88 Investment Partners LLC’s holdings in Invesco QQQ were worth $1,229,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in QQQ. Red Tortoise LLC boosted its position in Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 74 shares during the last quarter. Robinson Capital Management LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth approximately $40,000. Friedenthal Financial purchased a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $41,000. Bear Mountain Capital Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $42,000. Finally, Core Wealth Advisors Inc. lifted its position in Invesco QQQ by 33.3% during the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.9 %

Shares of QQQ traded up $4.29 during mid-day trading on Friday, reaching $457.95. The stock had a trading volume of 29,669,461 shares, compared to its average volume of 33,694,408. Invesco QQQ has a 52-week low of $336.67 and a 52-week high of $460.58. The business’s fifty day moving average is $439.25 and its 200 day moving average is $422.38.

Invesco QQQ Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were paid a $0.5735 dividend. The ex-dividend date was Monday, March 18th. This represents a $2.29 annualized dividend and a dividend yield of 0.50%.

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.