Strait & Sound Wealth Management LLC Cuts Holdings in Invesco QQQ (NASDAQ:QQQ)

Strait & Sound Wealth Management LLC reduced its position in shares of Invesco QQQ (NASDAQ:QQQ) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,488 shares of the exchange traded fund’s stock after selling 363 shares during the quarter. Invesco QQQ accounts for approximately 1.5% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Strait & Sound Wealth Management LLC’s holdings in Invesco QQQ were worth $3,167,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Socha Financial Group LLC raised its position in Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares during the period. Archer Investment Corp increased its stake in shares of Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after purchasing an additional 4,025 shares in the last quarter. Bank Hapoalim BM raised its position in shares of Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after purchasing an additional 6,347 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its stake in Invesco QQQ by 20.7% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 33,082 shares of the exchange traded fund’s stock valued at $16,191,000 after buying an additional 5,673 shares in the last quarter. Finally, Marco Investment Management LLC lifted its stake in Invesco QQQ by 48.1% in the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock valued at $4,696,000 after buying an additional 3,123 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 0.8 %

NASDAQ:QQQ opened at $522.38 on Tuesday. The stock has a 50 day moving average of $500.28 and a two-hundred day moving average of $482.21. Invesco QQQ has a 12 month low of $391.53 and a 12 month high of $526.72.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, September 23rd.

Invesco QQQ Company 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.