Tanglewood Wealth Management Inc. Has $38.80 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Tanglewood Wealth Management Inc. cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.9% during the third quarter, Holdings Channel reports. The fund owned 79,503 shares of the exchange traded fund’s stock after selling 683 shares during the period. Invesco QQQ makes up about 4.5% of Tanglewood Wealth Management Inc.’s portfolio, making the stock its 8th biggest position. Tanglewood Wealth Management Inc.’s holdings in Invesco QQQ were worth $38,803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QQQ. Allspring Global Investments Holdings LLC acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $39,478,000. WFA Asset Management Corp grew its position in shares of Invesco QQQ by 70.6% in 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 acquiring an additional 1,894 shares during the period. Mainsail Financial Group LLC raised its stake in Invesco QQQ by 3.2% in the first quarter. Mainsail Financial Group LLC now owns 4,983 shares of the exchange traded fund’s stock valued at $2,213,000 after buying an additional 156 shares during the period. Massachusetts Wealth Management lifted its holdings in Invesco QQQ by 1.5% during the 1st quarter. Massachusetts Wealth Management now owns 4,314 shares of the exchange traded fund’s stock valued at $1,915,000 after purchasing an additional 65 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in Invesco QQQ by 4.1% in the 1st quarter. Cornerstone Wealth Management LLC now owns 36,468 shares of the exchange traded fund’s stock valued at $16,192,000 after buying an additional 1,444 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.2 %

Shares of NASDAQ QQQ opened at $490.57 on Thursday. The stock’s fifty day moving average price is $481.47 and its two-hundred day moving average price is $468.04. Invesco QQQ has a one year low of $346.62 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 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.