Arete Wealth Advisors LLC Sells 14,757 Shares of Invesco QQQ (NASDAQ:QQQ)

Arete Wealth Advisors LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,538 shares of the exchange traded fund's stock after selling 14,757 shares during the period. Invesco QQQ accounts for about 2.6% of Arete Wealth Advisors LLC's portfolio, making the stock its 3rd biggest position. Arete Wealth Advisors LLC's holdings in Invesco QQQ were worth $31,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the 2nd quarter valued at $30,000. CGC Financial Services LLC grew its position in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund's stock worth $44,000 after acquiring an additional 81 shares during the last quarter. Legacy Bridge LLC grew its position in Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund's stock worth $59,000 after acquiring an additional 45 shares during the last quarter. BNP Paribas bought a new stake in Invesco QQQ during the 3rd quarter worth $62,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Invesco QQQ by 27.2% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 131 shares of the exchange traded fund's stock worth $63,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 1.8 %

QQQ stock traded up $9.32 during midday trading on Wednesday, reaching $529.92. 31,417,535 shares of the stock were exchanged, compared to its average volume of 37,273,984. Invesco QQQ has a 52 week low of $394.41 and a 52 week high of $530.61. The company has a fifty day moving average price of $501.06 and a 200 day moving average price of $482.65.

Invesco QQQ Cuts Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis 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.