Mesirow Financial Investment Management Inc. Sells 1,648 Shares of Invesco QQQ $QQQ

Mesirow Financial Investment Management Inc. cut its position in Invesco QQQ (NASDAQ:QQQ) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,291 shares of the exchange traded fund’s stock after selling 1,648 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Invesco QQQ were worth $24,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in Invesco QQQ by 1.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,038,610 shares of the exchange traded fund’s stock worth $2,237,606,000 after acquiring an additional 30,083 shares during the last quarter. Analyst IMS Investment Management Services Ltd. raised its stake in Invesco QQQ by 0.3% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,787,559 shares of the exchange traded fund’s stock valued at $1,316,358,000 after acquiring an additional 4,751 shares during the period. HighTower Advisors LLC lifted its holdings in Invesco QQQ by 3.1% during the second quarter. HighTower Advisors LLC now owns 1,230,679 shares of the exchange traded fund’s stock valued at $906,272,000 after purchasing an additional 36,923 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in Invesco QQQ by 10.5% during the third quarter. Kestra Advisory Services LLC now owns 880,835 shares of the exchange traded fund’s stock valued at $651,615,000 after purchasing an additional 83,394 shares during the last quarter. Finally, GoalVest Advisory LLC lifted its holdings in Invesco QQQ by 20,256.6% during the third quarter. GoalVest Advisory LLC now owns 613,955 shares of the exchange traded fund’s stock valued at $454,185,000 after purchasing an additional 610,939 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Key Headlines Impacting Invesco QQQ

Here are the key news stories impacting Invesco QQQ this week:

• Positive Sentiment: The Nasdaq-100 had recently posted its strongest session since March, with chip stocks leading a broad rebound. That recovery offers support if buyers return, though it has not prevented the latest pullback. The Nasdaq-100 Just Had Its Best Day Since March Without Nvidia’s Help
• Neutral Sentiment: QQQ’s underlying index rallied in the prior session, but coverage cautioned that key technical levels will determine whether the move marks a durable rebound or a short-lived bounce. Invesco QQQ Trust ETF Is Falling Today — Here’s Why
• Negative Sentiment: U.S. equities fell after midday, weighing on broad-market ETFs and QQQ. Exchange-Traded Funds Lower as US Equities Decline After Midday
• Negative Sentiment: Hot October inflation and resilient employment data have prompted discussion of a possible December Fed rate hike. Higher-rate expectations can pressure growth and technology shares, which carry substantial weight in QQQ. Hot October CPI Prompts Chatter of a Jumbo December Fed Rate Hike

Invesco QQQ Trading Down 0.7%

Shares of NASDAQ:QQQ opened at $674.76 on Wednesday. Invesco QQQ has a twelve month low of $555.60 and a twelve month high of $762.86. The company has a 50-day moving average price of $719.39 and a two-hundred day moving average price of $680.92.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Monday, September 21st were paid a dividend of $0.7514 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, September 21st. This is a decrease from Invesco QQQ’s previous quarterly dividend of $0.8135.

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.