Cheviot Value Management LLC Sells 858 Shares of Invesco QQQ (NASDAQ:QQQ)

Cheviot Value Management LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 6.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,532 shares of the exchange traded fund’s stock after selling 858 shares during the quarter. Invesco QQQ makes up 1.1% of Cheviot Value Management LLC’s investment portfolio, making the stock its 25th largest position. Cheviot Value Management LLC’s holdings in Invesco QQQ were worth $5,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in QQQ. Northeast Investment Management grew its position in Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after acquiring an additional 20 shares during the last quarter. Planning Capital Management Corp boosted its stake in shares of Invesco QQQ by 7.1% during the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after purchasing an additional 20 shares during the period. Prospect Financial Services LLC grew its holdings in shares of Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the last quarter. Skyline Advisors Inc. increased its stake in shares of Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after buying an additional 21 shares during the period. Finally, Madden Advisory Services Inc. raised its holdings in Invesco QQQ by 0.9% during the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after buying an additional 21 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $509.74 on Monday. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58. The firm has a fifty day simple moving average of $496.13 and a two-hundred day simple moving average of $479.38.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%.

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.