KFG Wealth Management LLC Sells 6,146 Shares of Invesco QQQ (NASDAQ:QQQ)

KFG Wealth Management LLC cut its position in Invesco QQQ (NASDAQ:QQQ) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,355 shares of the exchange traded fund’s stock after selling 6,146 shares during the period. Invesco QQQ comprises about 7.0% of KFG Wealth Management LLC’s portfolio, making the stock its 2nd largest position. KFG Wealth Management LLC’s holdings in Invesco QQQ were worth $15,298,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Red Tortoise LLC raised its holdings in Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 74 shares during the period. Friedenthal Financial bought a new stake in shares of Invesco QQQ during the fourth quarter worth $41,000. Bear Mountain Capital Inc. bought a new stake in shares of Invesco QQQ during the fourth quarter worth $42,000. Russell Investments Group Ltd. bought a new stake in shares of Invesco QQQ during the second quarter worth $44,000. Finally, Core Wealth Advisors Inc. increased its position in shares of Invesco QQQ by 33.3% during the third quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after acquiring an additional 30 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 2.1 %

Shares of QQQ stock traded down $8.76 during trading hours on Friday, hitting $414.65. 74,953,695 shares of the company were exchanged, compared to its average volume of 46,014,188. The business has a 50 day moving average of $438.05 and a two-hundred day moving average of $407.51. Invesco QQQ has a 52 week low of $309.89 and a 52 week high of $449.34.

Invesco QQQ Announces Dividend

The firm 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 $0.5735 dividend. This represents a $2.29 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Monday, March 18th.

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.