Elite Wealth Management Inc. Sells 2,385 Shares of Invesco QQQ (NASDAQ:QQQ)

Elite Wealth Management Inc. lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 16.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,481 shares of the exchange traded fund’s stock after selling 2,385 shares during the quarter. Invesco QQQ makes up about 0.8% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 13th largest holding. Elite Wealth Management Inc.’s holdings in Invesco QQQ were worth $6,092,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in QQQ. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ in the first quarter worth $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ during the 2nd quarter valued at about $30,000. Chelsea Counsel Co. bought a new stake in Invesco QQQ during the first quarter worth about $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 worth $44,000 after purchasing 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 valued at $58,000 after purchasing an additional 103 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $505.30 on Thursday. The business’s 50 day moving average price is $495.14 and its 200-day moving average price is $478.31. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. 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.