Verde Capital Management Has $8.56 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Verde Capital Management decreased its position in Invesco QQQ (NASDAQ:QQQ) by 3.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,545 shares of the exchange traded fund’s stock after selling 678 shares during the period. Invesco QQQ comprises approximately 2.6% of Verde Capital Management’s portfolio, making the stock its 7th biggest holding. Verde Capital Management’s holdings in Invesco QQQ were worth $8,563,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QQQ. Ameriprise Financial Inc. lifted its holdings in Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after buying an additional 338,494 shares during the period. Global Assets Advisory LLC purchased a new position in Invesco QQQ during the 1st quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC lifted its position in shares of Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after buying an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.7 %

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

Invesco QQQ Cuts Dividend

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

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.