Denver Wealth Management Inc. Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Denver Wealth Management Inc. lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,674 shares of the exchange traded fund’s stock after selling 124 shares during the period. Invesco QQQ makes up 1.3% of Denver Wealth Management Inc.’s investment portfolio, making the stock its 14th largest position. Denver Wealth Management Inc.’s holdings in Invesco QQQ were worth $2,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ during the 1st quarter valued at about $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ during the 2nd quarter worth approximately $30,000. Chelsea Counsel Co. bought a new position in Invesco QQQ during the 1st quarter worth approximately $40,000. CGC Financial Services LLC grew its position in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ traded up $0.09 on Monday, hitting $494.56. 14,964,008 shares of the company were exchanged, compared to its average volume of 38,907,070. The firm has a fifty day simple moving average of $477.68 and a two-hundred day simple moving average of $465.15. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a 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.