Wealthquest Corp Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Wealthquest Corp cut its position in shares of Invesco QQQ (NASDAQ:QQQ) by 14.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,432 shares of the exchange traded fund’s stock after selling 402 shares during the period. Wealthquest Corp’s holdings in Invesco QQQ were worth $1,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Global Assets Advisory LLC bought a new position in Invesco QQQ during the first quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC grew its stake in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Invesco QQQ by 18,691.3% in 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 buying an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC lifted its stake 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 acquiring an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Invesco QQQ in the 1st quarter valued at $304,591,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.3 %

NASDAQ:QQQ opened at $488.07 on Tuesday. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The stock has a fifty day simple moving average of $468.22 and a 200-day simple moving average of $460.55.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 dividend on an annualized basis and a yield of 0.55%.

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.