SMART Wealth LLC Sells 2,761 Shares of Invesco QQQ (NASDAQ:QQQ)

SMART Wealth LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 26.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,760 shares of the exchange traded fund's stock after selling 2,761 shares during the quarter. Invesco QQQ comprises about 1.5% of SMART Wealth LLC's investment portfolio, making the stock its 18th biggest position. SMART Wealth LLC's holdings in Invesco QQQ were worth $3,787,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of QQQ. Northeast Investment Management increased its position in shares of Invesco QQQ by 0.6% during the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund's stock valued at $1,697,000 after purchasing an additional 20 shares during the period. Planning Capital Management Corp lifted its position in Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund's stock worth $146,000 after purchasing an additional 20 shares during the period. Skyline Advisors Inc. boosted its stake in Invesco QQQ by 5.0% during 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. increased its holdings in Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund's stock valued at $1,214,000 after buying an additional 21 shares during the period. Finally, Meridian Management Co. raised its stake in shares of Invesco QQQ by 0.6% in 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. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $7.64 during trading on Monday, hitting $538.17. 30,853,318 shares of the company's stock traded hands, compared to its average volume of 37,182,949. The firm's fifty day moving average price is $504.91 and its 200 day moving average price is $484.76. Invesco QQQ has a twelve month low of $395.34 and a twelve month high of $539.15.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, September 23rd.

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.