Invesco QQQ (NASDAQ:QQQ) Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,493 shares of the exchange traded fund’s stock after selling 3,819 shares during the quarter. Invesco QQQ accounts for about 2.6% of Sowell Financial Services LLC’s investment portfolio, making the stock its 4th biggest holding. Sowell Financial Services LLC’s holdings in Invesco QQQ were worth $56,937,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in Invesco QQQ in the first quarter valued at approximately $28,000. Deane Retirement Strategies Inc. bought a new stake in shares of Invesco QQQ in the first quarter worth $29,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ in the second quarter worth $30,000. Voisard Asset Management Group Inc. bought a new stake in shares of Invesco QQQ in the fourth quarter worth $35,000. Finally, Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ in the first quarter worth $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $3.93 during trading on Friday, reaching $485.52. The company’s stock had a trading volume of 21,636,740 shares, compared to its average volume of 39,638,789. The business has a fifty day moving average price of $469.07 and a 200-day moving average price of $461.18. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.56%. 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.