Invesco QQQ (NASDAQ:QQQ) Shares Sold by Bay Rivers Group

Bay Rivers Group reduced its position in shares of Invesco QQQ (NASDAQ:QQQ) by 12.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,182 shares of the exchange traded fund’s stock after selling 1,731 shares during the quarter. Invesco QQQ comprises 3.0% of Bay Rivers Group’s portfolio, making the stock its 8th largest holding. Bay Rivers Group’s holdings in Invesco QQQ were worth $5,945,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after acquiring an additional 32,516,210 shares in the last quarter. Steel Grove Capital Advisors LLC increased its stake in Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after buying an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC grew its holdings in shares of Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after acquiring an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in shares of Invesco QQQ during the first quarter worth $304,591,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ QQQ traded up $3.36 on Tuesday, reaching $498.76. The stock had a trading volume of 11,910,866 shares, compared to its average volume of 38,613,797. Invesco QQQ has a 1 year low of $346.45 and a 1 year high of $503.52. The business has a 50 day moving average price of $480.79 and a 200 day moving average price of $467.41.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.54%.

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.