Summit Global Investments Reduces Holdings in Invesco QQQ (NASDAQ:QQQ)

Summit Global Investments lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 42.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,284 shares of the exchange traded fund’s stock after selling 19,570 shares during the quarter. Invesco QQQ makes up about 0.8% of Summit Global Investments’ holdings, making the stock its 26th biggest position. Summit Global Investments’ holdings in Invesco QQQ were worth $12,828,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Westwood Holdings Group Inc. lifted its stake in shares of Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after buying an additional 1,993 shares during the period. Socha Financial Group LLC lifted its position in Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after buying an additional 2,171 shares during the period. Bank Hapoalim BM boosted its stake in Invesco QQQ by 5.5% in the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after buying an additional 6,347 shares during the last quarter. SVB Wealth LLC grew its holdings in Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after buying an additional 2,453 shares during the period. Finally, Invictus Private Wealth LLC increased its stake in shares of Invesco QQQ by 1.3% during the 3rd quarter. Invictus Private Wealth LLC now owns 334,023 shares of the exchange traded fund’s stock valued at $163,026,000 after acquiring an additional 4,139 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $513.54 on Friday. The business has a 50-day moving average of $483.00 and a two-hundred day moving average of $470.34. Invesco QQQ has a 12 month low of $369.57 and a 12 month high of $514.33.

Invesco QQQ Cuts Dividend

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

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.