Paulson Wealth Management Inc. Sells 1,840 Shares of Invesco QQQ (NASDAQ:QQQ)

Paulson Wealth Management Inc. trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,846 shares of the exchange traded fund's stock after selling 1,840 shares during the quarter. Invesco QQQ comprises about 1.5% of Paulson Wealth Management Inc.'s investment portfolio, making the stock its 13th largest holding. Paulson Wealth Management Inc.'s holdings in Invesco QQQ were worth $5,782,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of QQQ. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ during the first quarter worth about $28,000. Mechanics Financial Corp acquired a new position in Invesco QQQ during the second quarter valued at approximately $30,000. Chelsea Counsel Co. bought a new stake in Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC boosted its holdings in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund's stock valued at $44,000 after purchasing an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its stake in shares of Invesco QQQ by 572.2% in the 2nd 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 during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.0 %

Shares of NASDAQ QQQ traded down $0.13 during mid-day trading on Wednesday, hitting $512.78. 16,009,483 shares of the stock traded hands, compared to its average volume of 38,192,918. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58. The firm has a 50 day simple moving average of $486.39 and a two-hundred day simple moving average of $473.15.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%.

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.