Pitti Group Wealth Management LLC Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Pitti Group Wealth Management LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 9.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,311 shares of the exchange traded fund’s stock after selling 138 shares during the period. Pitti Group Wealth Management LLC’s holdings in Invesco QQQ were worth $537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Red Tortoise LLC increased its stake in shares of Invesco QQQ by 370.0% in the 4th 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. Friedenthal Financial acquired a new stake in shares of Invesco QQQ during the 4th quarter worth about $41,000. Bear Mountain Capital Inc. acquired a new stake in shares of Invesco QQQ during the 4th quarter worth about $42,000. Core Wealth Advisors Inc. increased its position in shares of Invesco QQQ by 33.3% during the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 30 shares during the last quarter. Finally, Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 104.0% during the 3rd quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock worth $48,000 after purchasing an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.5 %

Shares of NASDAQ:QQQ traded up $6.55 during midday trading on Friday, reaching $431.00. 41,874,907 shares of the company’s stock were exchanged, compared to its average volume of 47,550,872. The firm’s 50 day simple moving average is $436.88 and its two-hundred day simple moving average is $410.40. Invesco QQQ has a fifty-two week low of $315.05 and a fifty-two week high of $449.34.

Invesco QQQ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, March 19th will be given a $0.5735 dividend. This represents a $2.29 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, March 18th.

Invesco QQQ Profile

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.