Grassi Investment Management Sells 78 Shares of Invesco QQQ (NASDAQ:QQQ)

Grassi Investment Management lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,239 shares of the exchange traded fund’s stock after selling 78 shares during the period. Grassi Investment Management’s holdings in Invesco QQQ were worth $5,746,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Northeast Investment Management grew its position in Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after purchasing an additional 20 shares during the last quarter. Planning Capital Management Corp increased its stake in shares of Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after acquiring an additional 20 shares during the period. Skyline Advisors Inc. increased its stake in shares of Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after acquiring an additional 21 shares during the period. Madden Advisory Services Inc. raised its holdings in shares of Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after purchasing an additional 21 shares during the last quarter. Finally, Meridian Management Co. lifted its position in Invesco QQQ by 0.6% during the third quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund’s stock valued at $1,640,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ traded down $2.85 during midday trading on Monday, hitting $504.34. 24,157,436 shares of the company were exchanged, compared to its average volume of 33,270,887. The company’s 50 day simple moving average is $514.92 and its 200 day simple moving average is $491.12. Invesco QQQ has a 1-year low of $402.92 and a 1-year high of $539.15.

Invesco QQQ Dividend Announcement

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.

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.