Westside Investment Management Inc. Has $14.89 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Westside Investment Management Inc. reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,585 shares of the exchange traded fund's stock after selling 961 shares during the quarter. Invesco QQQ makes up 3.2% of Westside Investment Management Inc.'s investment portfolio, making the stock its 4th largest position. Westside Investment Management Inc.'s holdings in Invesco QQQ were worth $14,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Northeast Investment Management lifted its position in Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund's stock worth $1,697,000 after buying an additional 20 shares in the last quarter. Planning Capital Management Corp boosted its position in Invesco QQQ by 7.1% during the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund's stock valued at $146,000 after purchasing an additional 20 shares during the last quarter. Skyline Advisors Inc. grew its stake in Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund's stock valued at $215,000 after purchasing an additional 21 shares in the last quarter. Madden Advisory Services Inc. increased its position in shares of Invesco QQQ by 0.9% during the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund's stock worth $1,214,000 after purchasing an additional 21 shares during the last quarter. Finally, Meridian Management Co. raised its stake 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 worth $1,640,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.5 %

Shares of NASDAQ QQQ traded down $2.52 during trading hours on Thursday, hitting $527.40. The company had a trading volume of 16,136,163 shares, compared to its average volume of 37,206,969. Invesco QQQ has a 1-year low of $395.34 and a 1-year high of $530.61. The firm's 50 day moving average is $502.02 and its 200-day moving average is $482.98.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, September 23rd.

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.