Oppenheimer & Co. Inc. Sells 6,778 Shares of Invesco QQQ (NASDAQ:QQQ)

Oppenheimer & Co. Inc. lowered its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,099 shares of the exchange traded fund's stock after selling 6,778 shares during the period. Invesco QQQ comprises about 1.0% of Oppenheimer & Co. Inc.'s investment portfolio, making the stock its 12th biggest holding. Oppenheimer & Co. Inc.'s holdings in Invesco QQQ were worth $66,426,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Northeast Investment Management increased its stake in shares of Invesco QQQ by 0.6% in the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund's stock worth $1,697,000 after purchasing an additional 20 shares in the last quarter. Prospect Financial Services LLC grew its holdings in Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund's stock valued at $3,059,000 after purchasing an additional 21 shares during the period. Skyline Advisors Inc. increased its position in Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund's stock worth $215,000 after buying an additional 21 shares in the last quarter. Madden Advisory Services Inc. raised its stake in shares of Invesco QQQ by 0.9% in the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund's stock worth $1,214,000 after buying an additional 21 shares during the period. Finally, Meridian Management Co. lifted its position in shares of Invesco QQQ by 0.6% during the 3rd quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund's stock valued at $1,640,000 after buying an additional 21 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.1 %

Shares of NASDAQ:QQQ traded down $0.66 during mid-day trading on Wednesday, reaching $512.25. 24,494,106 shares of the company traded hands, compared to its average volume of 38,234,848. The company's 50 day moving average price is $486.39 and its 200-day moving average price is $473.15. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.