U.S. Capital Wealth Advisors LLC Cuts Position in Invesco QQQ (NASDAQ:QQQ)

U.S. Capital Wealth Advisors LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ) by 14.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,113 shares of the exchange traded fund’s stock after selling 10,847 shares during the quarter. Invesco QQQ accounts for about 1.1% of U.S. Capital Wealth Advisors LLC’s holdings, making the stock its 12th largest holding. U.S. Capital Wealth Advisors LLC’s holdings in Invesco QQQ were worth $32,268,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Steel Grove Capital Advisors LLC increased its holdings in 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 worth $1,525,067,000 after acquiring an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Invesco QQQ by 18,691.3% during the second 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 in the last quarter. Granite Bay Wealth Management LLC raised its position in shares of Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares during the last quarter. Harvard Management Co. Inc. purchased a new position in Invesco QQQ in the 1st quarter valued at about $304,591,000. Finally, Mirae Asset Securities USA Inc. acquired a new stake in Invesco QQQ in the 2nd quarter worth about $215,600,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 1.5 %

NASDAQ:QQQ opened at $488.36 on Thursday. The stock has a 50 day moving average of $479.75 and a two-hundred day moving average of $466.12. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 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.