Invesco QQQ (NASDAQ:QQQ) Stake Cut by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,373,065 shares of the exchange traded fund's stock after selling 171,475 shares during the period. Invesco QQQ comprises approximately 1.8% of Commonwealth Equity Services LLC's holdings, making the stock its 5th largest position. Commonwealth Equity Services LLC owned about 0.40% of Invesco QQQ worth $1,158,222,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of QQQ. Global Assets Advisory LLC purchased a new stake in Invesco QQQ in the 1st quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC lifted its stake in Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund's stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund's stock worth $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC lifted its stake in Invesco QQQ by 6,215.5% in the 2nd 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 in the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Invesco QQQ in the 1st quarter worth $304,591,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.7 %

QQQ stock traded up $3.22 during mid-day trading on Friday, hitting $494.47. The company had a trading volume of 25,335,030 shares, compared to its average volume of 39,012,984. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The company has a 50-day moving average price of $477.68 and a 200 day moving average price of $464.82.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.