Peak Financial Management Inc. Sells 569 Shares of Invesco QQQ (NASDAQ:QQQ)

Peak Financial Management Inc. cut its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 36.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,005 shares of the exchange traded fund's stock after selling 569 shares during the period. Peak Financial Management Inc.'s holdings in Invesco QQQ were worth $471,000 at the end of the most recent quarter.Microsoft’s AI Bet Faces a Major Test This Earnings SeasonSeveral other institutional investors also recently modified their holdings of the business. Eagle Capital Management LLC boosted its holdings in shares of Invesco QQQ by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock worth $31,025,000 after acquiring an additional 185 shares during the period. Brighton Jones LLC raised its position in shares of Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Invesco QQQ by 25.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,869 shares of the exchange traded fund's stock worth $1,467,000 after buying an additional 573 shares in the last quarter. Finally, Petros Family Wealth LLC purchased a new stake in Invesco QQQ during the fourth quarter valued at about $213,000. 44.58% of the stock is owned by institutional investors. Invesco QQQ Stock PerformanceNASDAQ QQQ opened at $574.55 on Monday. The stock's 50-day simple moving average is $549.00 and its two-hundred day simple moving average is $512.09. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $574.77. Invesco QQQ Cuts DividendStrategists Say Hold: Stocks May Beat the 'Sell in May' TrendThe business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. Invesco QQQ Company Profile (Free Report)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.See AlsoFive stocks we like better than Invesco QQQMarket Cap Calculator: How to Calculate Market CapWorried About a Fading Rally? Consider These 3 Dividend StocksStock Sentiment Analysis: How it Works3 Dividend Stocks Raising Payouts—and Backing It Up With ResultsHow to Know Which Cryptocurrency to Buy: A Guide for Investors3 Stocks With Monopoly Power—and Minimal CompetitionS&P 500 and Nasdaq-100 Flashed Death Crosses—Should You Worry?Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Invesco QQQ Right Now?Before you consider Invesco QQQ, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Invesco QQQ wasn't on the list.While Invesco QQQ currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here