Summit Asset Management LLC Sells 32 Shares of Invesco QQQ (NASDAQ:QQQ)

Summit Asset Management LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,728 shares of the exchange traded fund’s stock after selling 32 shares during the quarter. Summit Asset Management LLC’s holdings in Invesco QQQ were worth $1,906,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. PayPay Securities Corp increased its position in shares of Invesco QQQ by 276.9% during the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $37,000. Hoese & Co LLP increased its position in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after purchasing an additional 20 shares during the last quarter. Legacy Bridge LLC increased its position in shares of Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares during the last quarter. Finally, BNP Paribas bought a new position in Invesco QQQ during the 3rd quarter worth approximately $62,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $526.08 on Friday. The stock’s 50 day simple moving average is $523.39 and its 200 day simple moving average is $501.12. Invesco QQQ has a 1 year low of $413.07 and a 1 year high of $540.81.

Invesco QQQ Announces Dividend

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