Invesco QQQ (NASDAQ:QQQ) Stock Position Decreased by Financial Insights Inc.

Financial Insights Inc. lessened its position in Invesco QQQ (NASDAQ:QQQ) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,896 shares of the exchange traded fund’s stock after selling 880 shares during the quarter. Invesco QQQ comprises 3.0% of Financial Insights Inc.’s holdings, making the stock its 7th largest position. Financial Insights Inc.’s holdings in Invesco QQQ were worth $9,223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. Steel Grove Capital Advisors LLC lifted its position in Invesco QQQ by 934.0% during the first 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 buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC raised its position 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 valued at $13,307,000 after purchasing an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC raised its position in Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after purchasing an additional 894,532 shares during the period. Harvard Management Co. Inc. purchased a new stake in Invesco QQQ in the first quarter valued at $304,591,000. Finally, Mirae Asset Securities USA Inc. purchased a new stake in Invesco QQQ in the second quarter valued at $215,600,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $495.96 on Wednesday. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The stock’s fifty day moving average is $479.23 and its two-hundred day moving average is $465.96.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given 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 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.