Virtue Capital Management LLC Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Virtue Capital Management LLC cut its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 15.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,419 shares of the exchange traded fund's stock after selling 7,172 shares during the quarter. Invesco QQQ makes up about 3.8% of Virtue Capital Management LLC's holdings, making the stock its 6th biggest position. Virtue Capital Management LLC's holdings in Invesco QQQ were worth $18,751,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in QQQ. International Assets Investment Management LLC increased its holdings in Invesco QQQ by 46,491.6% during 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 last quarter. Strategic Financial Concepts LLC grew its stake in shares of Invesco QQQ by 18,691.3% in 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 in the last quarter. Granite Bay Wealth Management LLC increased its position in Invesco QQQ by 6,215.5% during 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 acquiring an additional 894,532 shares during the period. Toronto Dominion Bank boosted its holdings in Invesco QQQ by 13.0% in 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. acquired a new position in shares of Invesco QQQ during the 2nd quarter worth approximately $215,600,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ traded up $9.32 during trading hours on Wednesday, hitting $529.92. 31,383,225 shares of the stock were exchanged, compared to its average volume of 37,294,090. Invesco QQQ has a 1-year low of $394.41 and a 1-year high of $530.61. The company's fifty day simple moving average is $501.06 and its two-hundred 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. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.51%.

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.