Invesco QQQ (NASDAQ:QQQ) is Spectrum Wealth Advisory Group LLC's 3rd Largest Position

Spectrum Wealth Advisory Group LLC decreased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 52.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,715 shares of the exchange traded fund's stock after selling 35,437 shares during the quarter. Invesco QQQ makes up about 8.7% of Spectrum Wealth Advisory Group LLC's portfolio, making the stock its 3rd biggest holding. Spectrum Wealth Advisory Group LLC's holdings in Invesco QQQ were worth $15,479,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in QQQ. PBCay One RSC Ltd raised its stake in shares of Invesco QQQ by 6.2% in the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund's stock valued at $166,504,000 after acquiring an additional 22,000 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Invesco QQQ by 140.6% during the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund's stock worth $108,000 after buying an additional 142 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Invesco QQQ in the first quarter valued at $844,000. Vanguard Group Inc. raised its holdings in shares of Invesco QQQ by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund's stock valued at $7,779,000 after buying an additional 832 shares during the period. Finally, Davis R M Inc. lifted its stake in Invesco QQQ by 15.3% during the 1st quarter. Davis R M Inc. now owns 3,763 shares of the exchange traded fund's stock worth $1,671,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ QQQ traded up $3.45 during trading on Monday, hitting $500.02. The stock had a trading volume of 27,028,383 shares, compared to its average volume of 38,203,082. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58. The firm has a 50 day moving average price of $489.33 and a 200 day moving average price of $474.83.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid 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.