Balboa Wealth Partners Trims Stake in Invesco QQQ (NASDAQ:QQQ)

Balboa Wealth Partners reduced its position in shares of Invesco QQQ (NASDAQ:QQQ) by 28.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,231 shares of the exchange traded fund’s stock after selling 3,582 shares during the period. Invesco QQQ makes up 1.1% of Balboa Wealth Partners’ portfolio, making the stock its 16th biggest holding. Balboa Wealth Partners’ holdings in Invesco QQQ were worth $4,719,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Proficio Capital Partners LLC lifted its holdings in shares of Invesco QQQ by 51,292.3% during the 4th quarter. Proficio Capital Partners LLC now owns 11,500,566 shares of the exchange traded fund’s stock worth $5,879,434,000 after acquiring an additional 11,478,188 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock worth $2,080,052,000 after acquiring an additional 488,815 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Invesco QQQ by 47,853.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 4,113,968 shares of the exchange traded fund’s stock worth $2,103,184,000 after purchasing an additional 4,105,389 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Invesco QQQ by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,116,706 shares of the exchange traded fund’s stock worth $1,593,354,000 after purchasing an additional 27,115 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp lifted its stake in Invesco QQQ by 0.8% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 1,840,025 shares of the exchange traded fund’s stock worth $940,676,000 after purchasing an additional 13,772 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 1.1 %

Invesco QQQ stock opened at $476.92 on Thursday. The company has a market capitalization of $300.58 billion, a PE ratio of 33.43 and a beta of 1.11. The firm has a fifty day simple moving average of $516.50 and a two-hundred day simple moving average of $503.88. Invesco QQQ has a twelve month low of $413.07 and a twelve month high of $540.81.

Invesco QQQ Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

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.