Congress Asset Management Co. Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Congress Asset Management Co. decreased its holdings in Invesco QQQ (NASDAQ:QQQ) by 10.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 436 shares of the exchange traded fund’s stock after selling 50 shares during the period. Congress Asset Management Co.’s holdings in Invesco QQQ were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Palumbo Wealth Management LLC boosted its position in shares of Invesco QQQ by 0.3% during the 3rd quarter. Palumbo Wealth Management LLC now owns 10,705 shares of the exchange traded fund’s stock valued at $5,225,000 after acquiring an additional 33 shares during the last quarter. Nikulski Financial Inc. raised its stake in Invesco QQQ by 1.7% during the third quarter. Nikulski Financial Inc. now owns 19,039 shares of the exchange traded fund’s stock worth $9,292,000 after purchasing an additional 316 shares during the period. Bank Hapoalim BM boosted its holdings in Invesco QQQ by 5.5% in the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after purchasing an additional 6,347 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in shares of Invesco QQQ by 4.5% in the 3rd quarter. Catalyst Financial Partners LLC now owns 692 shares of the exchange traded fund’s stock valued at $338,000 after buying an additional 30 shares during the period. Finally, Tevis Investment Management grew its stake in shares of Invesco QQQ by 9.9% in the 3rd quarter. Tevis Investment Management now owns 554 shares of the exchange traded fund’s stock valued at $270,000 after buying an additional 50 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.7 %

QQQ stock opened at $487.43 on Friday. Invesco QQQ has a one year low of $360.30 and a one year high of $503.52. The firm’s 50 day moving average price is $481.80 and its 200-day moving average price is $468.80.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis 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.