Financial Insights Inc. Sells 880 Shares of Invesco QQQ (NASDAQ:QQQ)

Financial Insights Inc. trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,896 shares of the exchange traded fund’s stock after selling 880 shares during the period. Invesco QQQ comprises 3.0% of Financial Insights Inc.’s holdings, making the stock its 7th largest position. Financial Insights Inc.’s holdings in Invesco QQQ were worth $9,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ during the first quarter worth about $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ in the second quarter valued at approximately $30,000. Chelsea Counsel Co. acquired a new stake in Invesco QQQ in the first quarter valued at approximately $40,000. CGC Financial Services LLC grew its holdings in Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of QQQ opened at $495.96 on Wednesday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The stock’s 50 day moving average is $479.23 and its two-hundred day moving average is $465.96.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, September 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.