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

Verde Capital Management lowered its position in Invesco QQQ (NASDAQ:QQQ) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,545 shares of the exchange traded fund’s stock after selling 678 shares during the quarter. Invesco QQQ comprises approximately 2.6% of Verde Capital Management’s portfolio, making the stock its 7th largest holding. Verde Capital Management’s holdings in Invesco QQQ were worth $8,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in QQQ. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ in the 1st quarter worth $28,000. Mechanics Financial Corp purchased a new stake in Invesco QQQ during the second quarter valued at about $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ during the first quarter valued at about $40,000. CGC Financial Services LLC boosted 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 worth $44,000 after purchasing an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its position in shares of Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $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 NASDAQ QQQ opened at $494.47 on Friday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The firm’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 firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend 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.