Trek Financial LLC cut its stake in Invesco QQQ (NASDAQ:QQQ – Free Report) by 9.3% in the third quarter, HoldingsChannel.com reports. The fund owned 12,496 shares of the exchange traded fund’s stock after selling 1,288 shares during the period. Trek Financial LLC’s holdings in Invesco QQQ were worth $9,244,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in Invesco QQQ by 1.0% in the second quarter. Envestnet Asset Management Inc. now owns 3,038,610 shares of the exchange traded fund’s stock valued at $2,237,606,000 after purchasing an additional 30,083 shares in the last quarter. Analyst IMS Investment Management Services Ltd. raised its holdings in Invesco QQQ by 0.3% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,787,559 shares of the exchange traded fund’s stock worth $1,316,358,000 after purchasing an additional 4,751 shares during the period. HighTower Advisors LLC raised its holdings in Invesco QQQ by 3.1% in the second quarter. HighTower Advisors LLC now owns 1,230,679 shares of the exchange traded fund’s stock worth $906,272,000 after purchasing an additional 36,923 shares during the period. GoalVest Advisory LLC boosted its position in shares of Invesco QQQ by 20,256.6% during the third quarter. GoalVest Advisory LLC now owns 613,955 shares of the exchange traded fund’s stock worth $454,185,000 after purchasing an additional 610,939 shares in the last quarter. Finally, Corient Private Wealth LP boosted its position in shares of Invesco QQQ by 506.8% during the second quarter. Corient Private Wealth LP now owns 545,270 shares of the exchange traded fund’s stock worth $401,553,000 after purchasing an additional 455,412 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.
Invesco QQQ Price Performance
Shares of QQQ stock opened at $690.49 on Monday. Invesco QQQ has a 12-month low of $555.60 and a 12-month high of $762.86. The firm has a fifty day moving average of $725.00 and a 200-day moving average of $679.01.
Invesco QQQ Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Monday, September 21st were paid a $0.7514 dividend. The ex-dividend date of this dividend was Monday, September 21st. This is a negative change from Invesco QQQ’s previous quarterly dividend of $0.8135. This represents a $3.01 dividend on an annualized basis and a yield of 0.4%.
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.
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