NWK Group Inc. Has $2.30 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

NWK Group Inc. lowered its position in Invesco QQQ (NASDAQ:QQQ) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,901 shares of the exchange traded fund’s stock after selling 51 shares during the quarter. Invesco QQQ accounts for about 1.1% of NWK Group Inc.’s holdings, making the stock its 23rd largest position. NWK Group Inc.’s holdings in Invesco QQQ were worth $2,298,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wilkins Miller Wealth Management LLC acquired a new stake in Invesco QQQ during the 4th quarter valued at $1,018,000. Sentinus LLC grew its stake in shares of Invesco QQQ by 17.6% during the fourth quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund’s stock worth $3,307,000 after purchasing an additional 970 shares during the period. Sendero Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth $273,000. Cary Street Partners Financial LLC bought a new stake in Invesco QQQ during the fourth quarter worth about $10,052,000. Finally, Baird Financial Group Inc. raised its holdings in Invesco QQQ by 4.0% during the fourth quarter. Baird Financial Group Inc. now owns 327,433 shares of the exchange traded fund’s stock worth $167,394,000 after acquiring an additional 12,627 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $574.55 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $574.77. The stock’s 50 day moving average price is $549.00 and its two-hundred day moving average price is $512.37.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

About Invesco QQQ

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.