ETF Store Inc. Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

ETF Store Inc. cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 23.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,172 shares of the exchange traded fund’s stock after selling 676 shares during the period. Invesco QQQ comprises about 1.1% of ETF Store Inc.’s portfolio, making the stock its 21st biggest position. ETF Store Inc.’s holdings in Invesco QQQ were worth $1,060,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the second quarter worth approximately $30,000. Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ during the first quarter worth approximately $40,000. CGC Financial Services LLC increased its stake in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC increased its stake in shares of Invesco QQQ by 572.2% during the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 103 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 2.4 %

Shares of QQQ opened at $496.57 on Monday. The stock has a 50 day moving average price of $489.33 and a 200 day moving average price of $474.83. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was 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.