Investmark Advisory Group LLC Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Investmark Advisory Group LLC reduced its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,965 shares of the exchange traded fund’s stock after selling 118 shares during the period. Invesco QQQ makes up 1.4% of Investmark Advisory Group LLC’s portfolio, making the stock its 23rd biggest holding. Investmark Advisory Group LLC’s holdings in Invesco QQQ were worth $2,911,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QQQ. Mechanics Financial Corp bought a new stake in Invesco QQQ in the second quarter worth $30,000. CGC Financial Services LLC lifted its stake 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 worth $44,000 after purchasing an additional 81 shares during the last quarter. Legacy Bridge LLC lifted its stake in Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the last quarter. PFG Private Wealth Management LLC lifted its stake in Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 103 shares during the last quarter. Finally, BNP Paribas bought a new position in shares of Invesco QQQ during the third quarter valued at about $62,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.1 %

Shares of NASDAQ:QQQ opened at $514.91 on Tuesday. The company has a 50-day moving average price of $496.13 and a 200-day moving average price of $479.38. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $516.26.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

Invesco QQQ Profile

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.