Citizens Financial Group Inc. RI Reduces Stake in Invesco QQQ (NASDAQ:QQQ)

Citizens Financial Group Inc. RI reduced its position in Invesco QQQ (NASDAQ:QQQ) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,815 shares of the exchange traded fund’s stock after selling 851 shares during the period. Citizens Financial Group Inc. RI’s holdings in Invesco QQQ were worth $3,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Red Tortoise LLC lifted its position in Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 74 shares in the last quarter. Friedenthal Financial purchased a new position in Invesco QQQ during the fourth quarter valued at $41,000. Bear Mountain Capital Inc. purchased a new position in Invesco QQQ during the fourth quarter valued at $42,000. Core Wealth Advisors Inc. lifted its position in Invesco QQQ by 33.3% during the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock valued at $43,000 after purchasing an additional 30 shares in the last quarter. Finally, Blume Capital Management Inc. lifted its position in Invesco QQQ by 104.0% during the third quarter. Blume Capital Management Inc. now owns 135 shares of the exchange traded fund’s stock valued at $48,000 after purchasing an additional 3,500 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ traded up $6.55 on Friday, hitting $431.00. 41,874,907 shares of the company traded hands, compared to its average volume of 47,550,872. The business’s 50 day moving average price is $436.88 and its 200-day moving average price is $410.11. Invesco QQQ has a 52-week low of $315.05 and a 52-week high of $449.34.

Invesco QQQ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, March 19th will be given a dividend of $0.5735 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $2.29 annualized dividend and a yield of 0.53%.

Invesco QQQ 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.