Bay Rivers Group Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Bay Rivers Group lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 12,182 shares of the exchange traded fund's stock after selling 1,731 shares during the quarter. Invesco QQQ comprises approximately 3.0% of Bay Rivers Group's holdings, making the stock its 8th largest position. Bay Rivers Group's holdings in Invesco QQQ were worth $5,945,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund's stock valued at $15,904,322,000 after buying an additional 32,516,210 shares during the period. Steel Grove Capital Advisors LLC lifted its holdings in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund's stock valued at $1,525,067,000 after buying an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC lifted its holdings 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 buying an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund's stock valued at $409,513,000 after buying an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. acquired a new stake in shares of Invesco QQQ in the first quarter valued at $304,591,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Up 1.0 %

Shares of Invesco QQQ stock traded up $4.76 during trading on Tuesday, hitting $500.16. The stock had a trading volume of 27,266,841 shares, compared to its average volume of 38,689,535. The business has a fifty day moving average of $480.79 and a two-hundred day moving average of $467.41. Invesco QQQ has a fifty-two week low of $346.45 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.54%. 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.