Invesco QQQ (NASDAQ:QQQ) Stake Lowered by Parker Investment Management LLC

Parker Investment Management LLC decreased its position in Invesco QQQ (NASDAQ:QQQ) by 2.6% during the third quarter, HoldingsChannel.com reports. The firm owned 199,323 shares of the exchange traded fund’s stock after selling 5,331 shares during the quarter. Invesco QQQ makes up approximately 15.4% of Parker Investment Management LLC’s holdings, making the stock its largest holding. Parker Investment Management LLC’s holdings in Invesco QQQ were worth $97,284,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Murchinson Ltd. bought a new stake in Invesco QQQ in the 3rd quarter worth about $30,504,000. IHT Wealth Management LLC grew its stake in shares of Invesco QQQ by 42.5% in the third quarter. IHT Wealth Management LLC now owns 267,180 shares of the exchange traded fund’s stock worth $129,749,000 after acquiring an additional 79,644 shares during the period. Ingalls & Snyder LLC raised its holdings in shares of Invesco QQQ by 7.4% during the third quarter. Ingalls & Snyder LLC now owns 3,161 shares of the exchange traded fund’s stock valued at $1,543,000 after purchasing an additional 219 shares during the last quarter. Intrepid Capital Management Inc. boosted its holdings in Invesco QQQ by 8.2% in the third quarter. Intrepid Capital Management Inc. now owns 2,763 shares of the exchange traded fund’s stock worth $1,348,000 after purchasing an additional 209 shares during the last quarter. Finally, Independent Family Office LLC grew its position in Invesco QQQ by 6.3% in the 3rd quarter. Independent Family Office LLC now owns 2,588 shares of the exchange traded fund’s stock worth $1,243,000 after purchasing an additional 153 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $516.87 on Wednesday. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $517.15. The stock’s fifty day moving average price is $497.40 and its 200-day moving average price is $480.28.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, September 23rd.

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.