White Pine Capital LLC Lowers Stake in Invesco QQQ (NASDAQ:QQQ)

White Pine Capital LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 5.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,639 shares of the exchange traded fund’s stock after selling 100 shares during the period. White Pine Capital LLC’s holdings in Invesco QQQ were worth $671,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of QQQ. Red Tortoise LLC increased its position in shares of 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 purchasing an additional 74 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Invesco QQQ during the fourth quarter worth $41,000. Bear Mountain Capital Inc. acquired a new position in shares of Invesco QQQ during the fourth quarter worth $42,000. Core Wealth Advisors Inc. increased its position in shares of 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 purchasing an additional 30 shares in the last quarter. Finally, Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 104.0% during the third 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 in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $6.55 during trading hours 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 stock’s 50 day moving average is $436.88 and its 200-day 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 Dividend Announcement

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

Invesco QQQ Company 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.