Hobbs Group Advisors LLC Sells 4,826 Shares of Invesco QQQ (NASDAQ:QQQ)

Hobbs Group Advisors LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 54.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,082 shares of the exchange traded fund's stock after selling 4,826 shares during the period. Invesco QQQ comprises approximately 0.7% of Hobbs Group Advisors LLC's holdings, making the stock its 25th biggest position. Hobbs Group Advisors LLC's holdings in Invesco QQQ were worth $1,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of QQQ. International Assets Investment Management LLC lifted its position in shares of Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund's stock valued at $15,904,322,000 after acquiring an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Invesco QQQ by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund's stock worth $2,379,676,000 after buying an additional 338,494 shares during the period. Toronto Dominion Bank raised its holdings in shares of Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund's stock valued at $2,080,052,000 after acquiring an additional 488,815 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Invesco QQQ by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund's stock valued at $1,532,904,000 after purchasing an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund's stock valued at $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.8 %

NASDAQ:QQQ traded up $9.32 during trading hours on Wednesday, hitting $529.92. 31,383,225 shares of the company's stock traded hands, compared to its average volume of 37,294,090. The stock's fifty day moving average price is $501.06 and its two-hundred day moving average price is $482.65. Invesco QQQ has a twelve month low of $394.41 and a twelve month high of $530.61.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.51%.

Invesco QQQ Company 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.