Valley Financial Group Inc. Has $1.98 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Valley Financial Group Inc. reduced its position in shares of Invesco QQQ (NASDAQ:QQQ) by 7.5% during the third quarter, Holdings Channel reports. The institutional investor owned 4,059 shares of the exchange traded fund’s stock after selling 327 shares during the period. Invesco QQQ comprises about 1.4% of Valley Financial Group Inc.’s portfolio, making the stock its 15th largest holding. Valley Financial Group Inc.’s holdings in Invesco QQQ were worth $1,981,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tradition Wealth Management LLC increased its holdings in shares of Invesco QQQ by 1.4% during the third quarter. Tradition Wealth Management LLC now owns 31,939 shares of the exchange traded fund’s stock valued at $15,588,000 after acquiring an additional 431 shares in the last quarter. Encompass More Asset Management bought a new stake in Invesco QQQ during the 3rd quarter valued at $454,000. Circle Wealth Management LLC raised its holdings in Invesco QQQ by 6.4% during the third quarter. Circle Wealth Management LLC now owns 50,316 shares of the exchange traded fund’s stock worth $24,558,000 after buying an additional 3,006 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of Invesco QQQ in the third quarter valued at $791,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Invesco QQQ by 2.3% during the third quarter. Rockefeller Capital Management L.P. now owns 849,259 shares of the exchange traded fund’s stock valued at $414,429,000 after buying an additional 18,833 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $509.74 on Friday. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58. The firm has a 50-day moving average of $496.13 and a 200-day moving average of $479.19.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.53%. The ex-dividend date 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.