Granite Bay Wealth Management LLC Sells 892,219 Shares of Invesco QQQ (NASDAQ:QQQ)

Granite Bay Wealth Management LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 98.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,705 shares of the exchange traded fund’s stock after selling 892,219 shares during the quarter. Invesco QQQ makes up approximately 4.6% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. Granite Bay Wealth Management LLC’s holdings in Invesco QQQ were worth $8,153,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its holdings in Invesco QQQ by 7.3% during 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 purchasing an additional 338,494 shares during the last quarter. Global Assets Advisory LLC bought a new position in Invesco QQQ during the 1st quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC raised its holdings in Invesco QQQ by 934.0% during 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 last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Invesco QQQ by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after purchasing an additional 33,790 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $481.59 on Friday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The firm has a 50 day moving average price of $469.07 and a two-hundred day moving average price of $461.18.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued 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 yield of 0.56%.

About Invesco QQQ

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.