Custom Portfolio Group LLC Cuts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Custom Portfolio Group LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,482 shares of the exchange traded fund’s stock after selling 125 shares during the quarter. Invesco QQQ makes up 0.6% of Custom Portfolio Group LLC’s investment portfolio, making the stock its 20th largest holding. Custom Portfolio Group LLC’s holdings in Invesco QQQ were worth $711,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in QQQ. New Century Financial Group LLC purchased a new stake in shares of Invesco QQQ during the 2nd quarter worth approximately $1,015,000. SPX Gestao de Recursos Ltda purchased a new stake in Invesco QQQ in the second quarter worth $261,000. Founders Financial Alliance LLC raised its stake in shares of Invesco QQQ by 3.1% in the second quarter. Founders Financial Alliance LLC now owns 2,980 shares of the exchange traded fund’s stock valued at $1,428,000 after buying an additional 89 shares during the period. Aldebaran Financial Inc. lifted its position in shares of Invesco QQQ by 20.3% during the 2nd quarter. Aldebaran Financial Inc. now owns 4,211 shares of the exchange traded fund’s stock valued at $2,018,000 after buying an additional 710 shares during the last quarter. Finally, PVG Asset Management Corp bought a new position in shares of Invesco QQQ during the 2nd quarter worth $677,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $488.07 on Tuesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The business has a 50-day moving average of $468.22 and a 200 day moving average of $460.55.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.