Invesco QQQ $QQQ Shares Sold by Spectrum Wealth Advisory Group LLC

Spectrum Wealth Advisory Group LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,020 shares of the exchange traded fund’s stock after selling 703 shares during the quarter. Invesco QQQ makes up about 6.5% of Spectrum Wealth Advisory Group LLC’s investment portfolio, making the stock its 5th largest holding. Spectrum Wealth Advisory Group LLC’s holdings in Invesco QQQ were worth $13,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in QQQ. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the first quarter worth approximately $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the first quarter worth approximately $51,000. Banque Transatlantique SA acquired a new stake in shares of Invesco QQQ during the fourth quarter worth approximately $57,000. Blume Capital Management Inc. grew its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after buying an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC grew its position in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ stock opened at $570.40 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32. The firm has a 50 day simple moving average of $562.24 and a 200-day simple moving average of $517.38.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

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.