Invesco QQQ (NASDAQ:QQQ) Stock Position Trimmed by New Perspectives Inc

New Perspectives Inc cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,310 shares of the exchange traded fund’s stock after selling 1,478 shares during the quarter. Invesco QQQ makes up 15.9% of New Perspectives Inc’s investment portfolio, making the stock its 2nd largest holding. New Perspectives Inc’s holdings in Invesco QQQ were worth $29,924,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QQQ. New Covenant Trust Company N.A. bought a new position in Invesco QQQ during the first quarter valued at $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ during the 2nd quarter valued at $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ during the 1st quarter worth $40,000. CGC Financial Services LLC grew its stake in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after acquiring an additional 24 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.7 %

NASDAQ QQQ opened at $494.47 on Friday. The firm’s 50-day simple moving average is $477.68 and its two-hundred day simple moving average is $464.99. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.

About Invesco QQQ

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.