Invst LLC Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Invst LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 47,687 shares of the exchange traded fund's stock after selling 2,191 shares during the period. Invesco QQQ makes up 2.8% of Invst LLC's investment portfolio, making the stock its 8th biggest position. Invst LLC's holdings in Invesco QQQ were worth $23,275,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund's stock worth $15,904,322,000 after buying an additional 32,516,210 shares during the period. Strategic Financial Concepts LLC raised its stake in shares of Invesco QQQ by 18,691.3% during 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 acquiring an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC grew its stake in shares of Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund's stock worth $409,513,000 after purchasing an additional 894,532 shares during the last quarter. Toronto Dominion Bank increased its holdings in Invesco QQQ by 13.0% during the 3rd quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund's stock valued at $2,080,052,000 after purchasing an additional 488,815 shares during the period. Finally, Mirae Asset Securities USA Inc. bought a new position in Invesco QQQ during the 2nd quarter valued at approximately $215,600,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.8 %

NASDAQ QQQ traded up $9.32 on Wednesday, hitting $529.92. The company's stock had a trading volume of 31,357,459 shares, compared to its average volume of 37,294,344. Invesco QQQ has a 52-week low of $394.41 and a 52-week high of $530.61. The company's 50-day simple moving average is $501.06 and its 200 day simple moving average is $482.65.

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 issued a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.51%. 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.