Invesco QQQ (NASDAQ:QQQ) Position Reduced by LexAurum Advisors LLC

LexAurum Advisors LLC cut its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 12,969 shares of the exchange traded fund’s stock after selling 236 shares during the period. Invesco QQQ comprises 1.4% of LexAurum Advisors LLC’s holdings, making the stock its 18th largest position. LexAurum Advisors LLC’s holdings in Invesco QQQ were worth $6,330,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of QQQ. Ameriprise Financial Inc. increased its holdings in shares of 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 valued at $2,379,676,000 after purchasing an additional 338,494 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Invesco QQQ in the 1st quarter valued at about $1,580,776,000. Steel Grove Capital Advisors LLC increased its holdings 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 valued at $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Invesco QQQ by 1.1% in the 2nd 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 purchasing an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.1 %

Shares of QQQ opened at $491.25 on Friday. The business’s 50-day moving average is $476.80 and its 200-day moving average is $464.48. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a 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.