Invesco QQQ (NASDAQ:QQQ) Holdings Trimmed by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 37.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,102 shares of the exchange traded fund’s stock after selling 13,685 shares during the quarter. Invesco QQQ accounts for 7.5% of Abich Financial Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding. Abich Financial Wealth Management LLC’s holdings in Invesco QQQ were worth $11,068,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QQQ. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ in the first quarter valued at approximately $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the 2nd quarter worth $30,000. Deane Retirement Strategies Inc. acquired a new position in shares of Invesco QQQ during the 1st quarter worth $29,000. Legacy Bridge LLC increased its holdings in shares of Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of Invesco QQQ in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ stock opened at $485.37 on Wednesday. The company’s 50-day moving average price is $467.59 and its 200 day moving average price is $459.22. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend 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.