Mystic Asset Management Inc. Cuts Stake in Invesco QQQ (NASDAQ:QQQ)

Mystic Asset Management Inc. trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,922 shares of the exchange traded fund’s stock after selling 346 shares during the quarter. Invesco QQQ comprises 2.3% of Mystic Asset Management Inc.’s portfolio, making the stock its 6th largest holding. Mystic Asset Management Inc.’s holdings in Invesco QQQ were worth $8,651,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in QQQ. PayPay Securities Corp lifted its stake in shares of Invesco QQQ by 276.9% in the 4th quarter. PayPay Securities Corp now owns 49 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 36 shares during the period. Roxbury Financial LLC bought a new stake in Invesco QQQ during the fourth quarter worth approximately $37,000. Hoese & Co LLP lifted its position in Invesco QQQ by 32.3% in the fourth quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock worth $42,000 after purchasing an additional 20 shares during the period. Midwest Capital Advisors LLC bought a new position in Invesco QQQ during the 4th quarter valued at $51,000. Finally, 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 period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $482.77 on Tuesday. The company has a market capitalization of $304.27 billion, a PE ratio of 30.74 and a beta of 1.11. The stock’s fifty day moving average is $514.05 and its 200-day moving average is $504.16. Invesco QQQ has a one year low of $413.07 and a one year high of $540.81.

Invesco QQQ Announces Dividend

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