Pacific Wealth Management Has $6.38 Million Holdings in Invesco QQQ Trust (NASDAQ:QQQ)

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Pacific Wealth Management lowered its position in shares of Invesco QQQ Trust (NASDAQ:QQQGet Rating) by 41.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 17,600 shares of the exchange traded fund’s stock after selling 12,683 shares during the period. Invesco QQQ Trust accounts for 5.7% of Pacific Wealth Management’s investment portfolio, making the stock its 3rd largest position. Pacific Wealth Management’s holdings in Invesco QQQ Trust were worth $6,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Regency Capital Management Inc. DE purchased a new stake in shares of Invesco QQQ Trust during the fourth quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Invesco QQQ Trust during the fourth quarter valued at $29,000. Alaethes Wealth LLC lifted its holdings in shares of Invesco QQQ Trust by 100.0% during the third quarter. Alaethes Wealth LLC now owns 100 shares of the exchange traded fund’s stock valued at $36,000 after purchasing an additional 50 shares during the last quarter. William Allan LLC purchased a new stake in shares of Invesco QQQ Trust during the fourth quarter valued at $36,000. Finally, Aquire Wealth Advisors LLC purchased a new stake in shares of Invesco QQQ Trust during the fourth quarter valued at $37,000. 42.74% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ QQQ opened at $277.90 on Wednesday. Invesco QQQ Trust has a 12 month low of $269.28 and a 12 month high of $408.71. The business has a fifty day simple moving average of $306.66 and a 200-day simple moving average of $343.65.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Wednesday, June 22nd will be paid a $0.527 dividend. This is an increase from Invesco QQQ Trust’s previous quarterly dividend of $0.43. This represents a $2.11 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, June 21st.

Invesco QQQ Trust Profile (Get Rating)

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.

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