Invesco QQQ (NASDAQ:QQQ) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,478 shares of the exchange traded fund’s stock after selling 70 shares during the quarter. Invesco QQQ makes up approximately 1.5% of Sheets Smith Wealth Management’s portfolio, making the stock its 12th largest holding. Sheets Smith Wealth Management’s holdings in Invesco QQQ were worth $11,947,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. WFA Asset Management Corp boosted its stake in shares of Invesco QQQ by 70.6% during the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after purchasing an additional 1,894 shares during the last quarter. PBCay One RSC Ltd boosted its position in Invesco QQQ by 6.2% during the first quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock worth $166,504,000 after acquiring an additional 22,000 shares during the last quarter. Montag A & Associates Inc. grew its stake in Invesco QQQ by 155.1% in the 1st quarter. Montag A & Associates Inc. now owns 5,576 shares of the exchange traded fund’s stock worth $2,479,000 after acquiring an additional 3,390 shares during the period. Choate Investment Advisors raised its holdings in Invesco QQQ by 169.2% in the 1st quarter. Choate Investment Advisors now owns 24,346 shares of the exchange traded fund’s stock valued at $10,810,000 after acquiring an additional 15,303 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. lifted its stake in shares of Invesco QQQ by 2.1% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 25,773 shares of the exchange traded fund’s stock worth $11,443,000 after purchasing an additional 533 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 $514.14 on Friday. Invesco QQQ has a 52-week low of $369.57 and a 52-week high of $514.92. The stock’s fifty day simple moving average is $484.62 and its 200-day simple moving average is $471.30.

Invesco QQQ Cuts Dividend

The firm 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. This represents a $2.71 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, September 23rd.

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.