Sawtooth Solutions LLC decreased its position in Invesco QQQ Trust (NASDAQ:QQQ) by 97.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,551 shares of the exchange traded fund’s stock after selling 504,470 shares during the period. Invesco QQQ Trust comprises 1.0% of Sawtooth Solutions LLC’s investment portfolio, making the stock its 19th biggest position. Sawtooth Solutions LLC’s holdings in Invesco QQQ Trust were worth $4,644,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in QQQ. Inspire Advisors LLC purchased a new stake in shares of Invesco QQQ Trust during the fourth quarter worth about $26,000. Cascade Investment Advisors Inc. purchased a new stake in Invesco QQQ Trust during the 1st quarter valued at about $28,000. Wells Financial Advisors INC purchased a new stake in Invesco QQQ Trust during the 4th quarter valued at about $29,000. Annapolis Financial Services LLC purchased a new stake in Invesco QQQ Trust during the 4th quarter valued at about $31,000. Finally, Dividend Assets Capital LLC purchased a new stake in Invesco QQQ Trust during the 1st quarter valued at about $32,000. 45.52% of the stock is owned by institutional investors and hedge funds.
NASDAQ QQQ traded up $0.27 during trading hours on Wednesday, hitting $347.84. 994,988 shares of the company’s stock traded hands, compared to its average volume of 45,514,348. Invesco QQQ Trust has a 52-week low of $237.35 and a 52-week high of $348.03. The company’s 50-day moving average is $334.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 22nd will be paid a dividend of $0.397 per share. This represents a $1.59 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 21st. This is a boost from Invesco QQQ Trust’s previous quarterly dividend of $0.40.
About Invesco QQQ Trust
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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