Retirement Investment Advisors Inc. Trims Position in Invesco QQQ (NASDAQ:QQQ)

Retirement Investment Advisors Inc. decreased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,116 shares of the exchange traded fund’s stock after selling 157 shares during the quarter. Invesco QQQ makes up 0.4% of Retirement Investment Advisors Inc.’s holdings, making the stock its 16th largest holding. Retirement Investment Advisors Inc.’s holdings in Invesco QQQ were worth $3,638,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of QQQ. Stephens Consulting LLC raised its holdings in Invesco QQQ by 0.4% in the 4th quarter. Stephens Consulting LLC now owns 5,416 shares of the exchange traded fund’s stock worth $2,769,000 after purchasing an additional 19 shares during the period. Cardinal Point Capital Management ULC increased its position in shares of Invesco QQQ by 0.5% in the fourth quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after buying an additional 20 shares in the last quarter. Hoese & Co LLP raised its stake 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 worth $42,000 after buying an additional 20 shares during the period. Farmers & Merchants Investments Inc. lifted its position in shares of Invesco QQQ by 1.9% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,093 shares of the exchange traded fund’s stock valued at $559,000 after buying an additional 20 shares in the last quarter. Finally, RAM Investment Partners LLC raised its position in Invesco QQQ by 1.7% during the fourth quarter. RAM Investment Partners LLC now owns 1,167 shares of the exchange traded fund’s stock worth $597,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 2.6 %

Shares of Invesco QQQ stock opened at $468.94 on Friday. Invesco QQQ has a twelve month low of $413.07 and a twelve month high of $540.81. The firm has a market capitalization of $295.55 billion, a PE ratio of 30.74 and a beta of 1.11. The firm’s 50-day moving average price is $508.43 and its 200 day moving average price is $505.09.

Invesco QQQ Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 24th will be paid a $0.7157 dividend. The ex-dividend date of this dividend is Monday, March 24th.

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.