Invesco QQQ (NASDAQ:QQQ) Shares Sold by Paulson Wealth Management Inc.

Paulson Wealth Management Inc. trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 13.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,846 shares of the exchange traded fund’s stock after selling 1,840 shares during the quarter. Invesco QQQ accounts for about 1.5% of Paulson Wealth Management Inc.’s portfolio, making the stock its 13th largest position. Paulson Wealth Management Inc.’s holdings in Invesco QQQ were worth $5,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Northeast Investment Management raised its position in shares of Invesco QQQ by 0.6% in the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after purchasing an additional 20 shares during the last quarter. Prospect Financial Services LLC raised its holdings in shares of Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after buying an additional 21 shares during the last quarter. Skyline Advisors Inc. lifted its stake in shares of Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after buying an additional 21 shares during the period. Madden Advisory Services Inc. grew its holdings in shares of Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after buying an additional 21 shares during the last quarter. Finally, Meridian Management Co. increased its position in shares of Invesco QQQ by 0.6% in the 3rd quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund’s stock valued at $1,640,000 after acquiring an additional 21 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.2 %

Shares of QQQ opened at $512.91 on Wednesday. The stock has a 50-day moving average of $485.37 and a two-hundred day moving average of $472.57. Invesco QQQ has a one year low of $375.24 and a one year high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%.

About Invesco QQQ

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.