Channel Wealth LLC Has $5.26 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Channel Wealth LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 22.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,776 shares of the exchange traded fund’s stock after selling 3,082 shares during the period. Invesco QQQ makes up 1.7% of Channel Wealth LLC’s holdings, making the stock its 16th largest position. Channel Wealth LLC’s holdings in Invesco QQQ were worth $5,259,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new stake in Invesco QQQ during the 1st quarter worth about $28,000. Mechanics Financial Corp acquired a new position in Invesco QQQ during the second quarter valued at approximately $30,000. Chelsea Counsel Co. bought a new position in Invesco QQQ in the first quarter valued at approximately $40,000. CGC Financial Services LLC increased its position in shares of 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 purchasing an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after buying an additional 24 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 1.6 %

Shares of NASDAQ:QQQ opened at $513.54 on Friday. Invesco QQQ has a 52-week low of $369.57 and a 52-week high of $514.33. The company has a 50-day simple moving average of $483.00 and a 200 day simple moving average of $470.34.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.

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.