New Perspectives Inc Decreases Stock Position in Invesco QQQ (NASDAQ:QQQ)

New Perspectives Inc lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 61,310 shares of the exchange traded fund’s stock after selling 1,478 shares during the quarter. Invesco QQQ accounts for approximately 15.9% of New Perspectives Inc’s portfolio, making the stock its 2nd largest position. New Perspectives Inc’s holdings in Invesco QQQ were worth $29,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ during the first quarter worth about $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the 2nd quarter valued at about $30,000. Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at about $40,000. CGC Financial Services LLC increased its position in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its position in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.7 %

Shares of Invesco QQQ stock opened at $494.47 on Friday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The company has a 50 day simple moving average of $477.68 and a two-hundred day simple moving average of $464.99.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.