Demars Financial Group LLC Cuts Position in Invesco QQQ Trust (NASDAQ:QQQ)

Demars Financial Group LLC lessened its holdings in Invesco QQQ Trust (NASDAQ:QQQ) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 761 shares of the exchange traded fund’s stock after selling 72 shares during the quarter. Demars Financial Group LLC’s holdings in Invesco QQQ Trust were worth $312,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of QQQ. International Assets Investment Management LLC grew its holdings in Invesco QQQ Trust by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after purchasing an additional 28,263,426 shares during the period. Comerica Bank purchased a new stake in Invesco QQQ Trust in the third quarter worth about $140,657,000. Granite Bay Wealth Management LLC grew its holdings in Invesco QQQ Trust by 47.1% in the fourth quarter. Granite Bay Wealth Management LLC now owns 1,183,279 shares of the exchange traded fund’s stock worth $451,075,000 after purchasing an additional 378,922 shares during the period. CHURCHILL MANAGEMENT Corp grew its holdings in Invesco QQQ Trust by 36.3% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 1,413,069 shares of the exchange traded fund’s stock worth $578,680,000 after purchasing an additional 376,661 shares during the period. Finally, Cerity Partners LLC grew its holdings in Invesco QQQ Trust by 77.2% in the fourth quarter. Cerity Partners LLC now owns 842,894 shares of the exchange traded fund’s stock worth $345,182,000 after purchasing an additional 367,317 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trust Price Performance

QQQ traded up $4.03 during midday trading on Wednesday, reaching $429.10. The company’s stock had a trading volume of 5,431,076 shares, compared to its average volume of 45,485,418. The stock’s 50-day moving average is $437.20 and its 200-day moving average is $409.44. Invesco QQQ Trust has a 1 year low of $309.89 and a 1 year high of $449.34.

Invesco QQQ Trust Announces Dividend

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

Invesco QQQ Trust 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.