Invesco QQQ (NASDAQ:QQQ) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,237 shares of the exchange traded fund’s stock after selling 124 shares during the period. Griffin Asset Management Inc.’s holdings in Invesco QQQ were worth $7,925,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Atwater Malick LLC acquired a new position in Invesco QQQ in the first quarter valued at $293,000. Westwood Holdings Group Inc. increased its stake in shares of Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after acquiring an additional 1,993 shares during the last quarter. GenWealth Group Inc. lifted its holdings in shares of Invesco QQQ by 5.8% during the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock worth $18,851,000 after acquiring an additional 2,325 shares during the period. Socha Financial Group LLC boosted its position in shares of Invesco QQQ by 1.3% in the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after acquiring an additional 1,153 shares during the last quarter. Finally, SVB Wealth LLC boosted its position in shares of Invesco QQQ by 15.2% in the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after acquiring an additional 2,453 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.3 %

Shares of QQQ stock opened at $490.85 on Wednesday. The company has a 50 day moving average price of $474.82 and a 200 day moving average price of $464.10. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

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

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.