Samalin Investment Counsel LLC Lowers Holdings in Invesco QQQ (NASDAQ:QQQ)

Samalin Investment Counsel LLC cut its position in Invesco QQQ (NASDAQ:QQQ) by 10.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,430 shares of the exchange traded fund’s stock after selling 624 shares during the quarter. Invesco QQQ accounts for about 1.2% of Samalin Investment Counsel LLC’s holdings, making the stock its 14th largest holding. Samalin Investment Counsel LLC’s holdings in Invesco QQQ were worth $2,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of QQQ. Mosley Wealth Management increased its holdings in shares of Invesco QQQ by 45.6% in the 4th quarter. Mosley Wealth Management now owns 2,387 shares of the exchange traded fund’s stock worth $1,243,000 after buying an additional 748 shares during the last quarter. Guardian Partners Inc. bought a new position in shares of Invesco QQQ in the 4th quarter worth $361,000. Fortis Capital Management LLC increased its holdings in shares of Invesco QQQ by 9.9% in the 4th quarter. Fortis Capital Management LLC now owns 6,717 shares of the exchange traded fund’s stock worth $3,434,000 after buying an additional 606 shares during the last quarter. Somerset Group LLC increased its holdings in shares of Invesco QQQ by 2.1% in the 4th quarter. Somerset Group LLC now owns 13,996 shares of the exchange traded fund’s stock worth $7,155,000 after buying an additional 286 shares during the last quarter. Finally, Sykon Capital LLC increased its holdings in shares of Invesco QQQ by 82.1% in the 4th quarter. Sykon Capital LLC now owns 23,516 shares of the exchange traded fund’s stock worth $12,022,000 after buying an additional 10,602 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $480.84 on Friday. Invesco QQQ has a 52 week low of $413.07 and a 52 week high of $540.81. The firm’s fifty day moving average is $511.30 and its 200 day moving average is $504.14. The firm has a market cap of $303.05 billion, a P/E ratio of 30.74 and a beta of 1.11.

Invesco QQQ Announces Dividend

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