Invesco QQQ (NASDAQ:QQQ) Stock Position Decreased by Lazari Capital Management Inc.

Lazari Capital Management Inc. trimmed its stake in Invesco QQQ (NASDAQ:QQQ) by 16.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,737 shares of the exchange traded fund’s stock after selling 934 shares during the quarter. Invesco QQQ makes up 1.0% of Lazari Capital Management Inc.’s holdings, making the stock its 21st largest holding. Lazari Capital Management Inc.’s holdings in Invesco QQQ were worth $2,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Atwater Malick LLC purchased a new stake in Invesco QQQ during the first quarter valued at about $293,000. Westwood Holdings Group Inc. lifted its position in shares of Invesco QQQ by 14.1% in 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 in the last quarter. Socha Financial Group LLC boosted its stake in Invesco QQQ by 1.3% in the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after purchasing an additional 1,153 shares during the period. SVB Wealth LLC grew its position in Invesco QQQ by 15.2% during the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after purchasing an additional 2,453 shares in the last quarter. Finally, WFA Asset Management Corp raised its stake in Invesco QQQ by 70.6% during the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after purchasing an additional 1,894 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $495.96 on Wednesday. The stock has a fifty day moving average of $479.23 and a 200-day moving average of $465.96. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

Invesco QQQ Company 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.