49 Wealth Management LLC Sells 453 Shares of Invesco QQQ (NASDAQ:QQQ)

49 Wealth Management LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,044 shares of the exchange traded fund’s stock after selling 453 shares during the period. 49 Wealth Management LLC’s holdings in Invesco QQQ were worth $1,486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northeast Investment Management boosted its stake in shares of Invesco QQQ by 0.6% during 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 in the last quarter. Planning Capital Management Corp boosted its position in Invesco QQQ by 7.1% during the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after acquiring an additional 20 shares in the last quarter. Prospect Financial Services LLC boosted its position in Invesco QQQ by 0.3% during the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after acquiring an additional 21 shares in the last quarter. Skyline Advisors Inc. grew its holdings in shares of Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after acquiring an additional 21 shares during the period. Finally, Madden Advisory Services Inc. raised its position in shares of Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after acquiring an additional 21 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $505.17 on Friday. The stock’s 50 day moving average is $492.47 and its 200 day moving average is $476.22. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 0.54%.

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.