Cheviot Value Management LLC Sells 858 Shares of Invesco QQQ (NASDAQ:QQQ)

Cheviot Value Management LLC decreased its stake in Invesco QQQ (NASDAQ:QQQ) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,532 shares of the exchange traded fund’s stock after selling 858 shares during the period. Invesco QQQ accounts for approximately 1.1% of Cheviot Value Management LLC’s holdings, making the stock its 25th largest position. Cheviot Value Management LLC’s holdings in Invesco QQQ were worth $5,628,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of QQQ. Mechanics Financial Corp acquired a new stake in Invesco QQQ in the second quarter valued at $30,000. CGC Financial Services LLC raised its holdings in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares during the period. Legacy Bridge LLC lifted its stake in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares during the last quarter. PFG Private Wealth Management LLC grew its holdings in Invesco QQQ by 572.2% during the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 103 shares during the period. Finally, BNP Paribas bought a new position in Invesco QQQ during the third quarter worth about $62,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $509.74 on Monday. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58. The stock’s 50 day moving average price is $496.13 and its two-hundred day moving average price is $479.38.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis 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.