King Wealth Management Group lessened its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,811 shares of the exchange traded fund's stock after selling 1,096 shares during the quarter. Invesco QQQ comprises 8.9% of King Wealth Management Group's portfolio, making the stock its 2nd biggest holding. King Wealth Management Group's holdings in Invesco QQQ were worth $57,012,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in QQQ. PBCay One RSC Ltd grew its stake in Invesco QQQ by 6.2% during the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund's stock worth $166,504,000 after buying an additional 22,000 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Invesco QQQ by 140.6% in the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund's stock valued at $108,000 after purchasing an additional 142 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Invesco QQQ during the first quarter worth about $844,000. Tocqueville Asset Management L.P. raised its position in shares of Invesco QQQ by 3.7% during the 1st quarter. Tocqueville Asset Management L.P. now owns 3,968 shares of the exchange traded fund's stock worth $1,762,000 after purchasing an additional 143 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in Invesco QQQ in the 1st quarter valued at about $496,000. 44.58% of the stock is owned by hedge funds and other institutional investors.
Invesco QQQ Stock Performance
Shares of NASDAQ:QQQ traded down $12.53 during trading on Friday, reaching $496.16. The stock had a trading volume of 41,612,445 shares, compared to its average volume of 38,209,055. The business has a fifty day moving average price of $488.38 and a 200-day moving average price of $473.67. Invesco QQQ has a 1-year low of $382.66 and a 1-year high of $515.58.
Invesco QQQ Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued 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 dividend yield of 0.55%.
About Invesco QQQ
(
Free Report)
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.
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