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

Wealthquest Corp reduced its position in Invesco QQQ (NASDAQ:QQQ) by 14.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Prospect Financial Services LLC boosted its stake in Invesco QQQ by 0.3% during the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the period. Sweeney & Michel LLC boosted its stake in shares of Invesco QQQ by 4.0% during the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after buying an additional 22 shares during the period. Family Firm Inc. grew its holdings in shares of Invesco QQQ by 3.1% during the second quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock worth $354,000 after buying an additional 22 shares during the last quarter. Merriman Wealth Management LLC raised its stake in Invesco QQQ by 0.5% during the 2nd quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock valued at $2,420,000 after acquiring an additional 23 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $488.07 on Tuesday. The business has a 50 day simple moving average of $468.22 and a 200-day simple moving average of $460.55. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.