Sowell Financial Services LLC Reduces Holdings in Invesco QQQ (NASDAQ:QQQ)

Sowell Financial Services LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,535 shares of the exchange traded fund’s stock after selling 958 shares during the quarter. Invesco QQQ makes up about 3.1% of Sowell Financial Services LLC’s investment portfolio, making the stock its 4th largest holding. Sowell Financial Services LLC’s holdings in Invesco QQQ were worth $59,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC boosted 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 buying an additional 11,478,188 shares during the period. Strategic Financial Concepts LLC lifted its position in Invesco QQQ by 47,853.9% during 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 acquiring an additional 4,105,389 shares during the last quarter. Artemis Wealth Advisors LLC boosted its holdings in shares of Invesco QQQ by 1,337.4% during the fourth quarter. Artemis Wealth Advisors LLC now owns 828,335 shares of the exchange traded fund’s stock worth $423,470,000 after acquiring an additional 895,277 shares during the period. Toronto Dominion Bank grew its position in shares of Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after purchasing an additional 488,815 shares during the last quarter. Finally, Cibc World Market Inc. increased its stake in shares of Invesco QQQ by 90.0% during the fourth quarter. Cibc World Market Inc. now owns 686,117 shares of the exchange traded fund’s stock worth $350,764,000 after purchasing an additional 324,948 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.7 %

NASDAQ:QQQ opened at $491.79 on Friday. The stock has a 50 day simple moving average of $518.84 and a 200 day simple moving average of $503.99. The stock has a market cap of $309.95 billion, a P/E ratio of 33.43 and a beta of 1.11. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $540.81.

Invesco QQQ Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.8347 dividend. 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.