International Assets Investment Management LLC Sells 32,520,286 Shares of Invesco QQQ (NASDAQ:QQQ)

International Assets Investment Management LLC trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 99.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 65,864 shares of the exchange traded fund’s stock after selling 32,520,286 shares during the quarter. Invesco QQQ makes up about 1.5% of International Assets Investment Management LLC’s holdings, making the stock its 10th largest position. International Assets Investment Management LLC’s holdings in Invesco QQQ were worth $33,606,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QQQ. Weaver Consulting Group boosted its holdings in Invesco QQQ by 1.2% during the 4th quarter. Weaver Consulting Group now owns 3,610 shares of the exchange traded fund’s stock worth $1,845,000 after acquiring an additional 43 shares during the last quarter. Innova Wealth Partners grew its position in Invesco QQQ by 89.7% in the 4th quarter. Innova Wealth Partners now owns 4,529 shares of the exchange traded fund’s stock worth $2,316,000 after purchasing an additional 2,141 shares in the last quarter. Legend Financial Advisors Inc. lifted its position in shares of Invesco QQQ by 0.3% during the 4th quarter. Legend Financial Advisors Inc. now owns 25,964 shares of the exchange traded fund’s stock worth $13,273,000 after buying an additional 68 shares in the last quarter. One Wealth Capital Management LLC purchased a new position in shares of Invesco QQQ in the 4th quarter worth approximately $275,000. Finally, Stonehearth Capital Management LLC grew its holdings in shares of Invesco QQQ by 2,573.9% in the fourth quarter. Stonehearth Capital Management LLC now owns 11,979 shares of the exchange traded fund’s stock valued at $6,124,000 after acquiring an additional 11,531 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Invesco QQQ stock traded down $2.55 during mid-day trading on Wednesday, reaching $512.63. 7,348,390 shares of the company’s stock were exchanged, compared to its average volume of 28,509,830. The business’s fifty day simple moving average is $513.51 and its 200 day simple moving average is $490.39. Invesco QQQ has a one year low of $401.71 and a one year high of $539.15.

Invesco QQQ Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 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.