Destination Wealth Management Sells 9,646 Shares of Invesco QQQ Trust (QQQ)

Destination Wealth Management reduced its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 45.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,660 shares of the exchange traded fund’s stock after selling 9,646 shares during the period. Destination Wealth Management’s holdings in Invesco QQQ Trust were worth $2,095,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Dearborn Partners LLC raised its position in shares of Invesco QQQ Trust by 3.7% during the 1st quarter. Dearborn Partners LLC now owns 2,133 shares of the exchange traded fund’s stock valued at $383,000 after buying an additional 76 shares during the period. Segment Wealth Management LLC raised its position in shares of Invesco QQQ Trust by 4.5% during the 1st quarter. Segment Wealth Management LLC now owns 79,412 shares of the exchange traded fund’s stock valued at $14,267,000 after buying an additional 3,405 shares during the period. John G Ullman & Associates Inc. raised its position in shares of Invesco QQQ Trust by 18.5% during the 1st quarter. John G Ullman & Associates Inc. now owns 1,924 shares of the exchange traded fund’s stock valued at $346,000 after buying an additional 300 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Invesco QQQ Trust by 3.4% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,440 shares of the exchange traded fund’s stock valued at $1,327,000 after buying an additional 248 shares during the period. Finally, Strategic Investment Advisors MI raised its position in shares of Invesco QQQ Trust by 26.2% during the 1st quarter. Strategic Investment Advisors MI now owns 7,891 shares of the exchange traded fund’s stock valued at $1,418,000 after buying an additional 1,640 shares during the period. Institutional investors and hedge funds own 48.11% of the company’s stock.

QQQ stock opened at $191.11 on Monday. Invesco QQQ Trust has a one year low of $143.46 and a one year high of $191.32.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.3242 per share. This represents a $1.30 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Monday, March 18th.

TRADEMARK VIOLATION NOTICE: “Destination Wealth Management Sells 9,646 Shares of Invesco QQQ Trust (QQQ)” was originally posted by Modern Readers and is the property of of Modern Readers. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & international copyright laws. The correct version of this article can be read at https://www.modernreaders.com/news/2019/05/06/destination-wealth-management-sells-9646-shares-of-invesco-qqq-trust-qqq.html.

Invesco QQQ Trust 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.

Featured Article: Do back-end load funds outperform no-load funds?

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQ).

Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

Receive News & Ratings for Invesco QQQ Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ Trust and related companies with MarketBeat.com's FREE daily email newsletter.