Pacific Wealth Management Sells 5,827 Shares of Invesco QQQ (NASDAQ:QQQ)

Pacific Wealth Management reduced its holdings in Invesco QQQ (NASDAQ:QQQ) by 93.4% in the 3rd quarter, Holdings Channel reports. The fund owned 412 shares of the exchange traded fund’s stock after selling 5,827 shares during the quarter. Invesco QQQ accounts for 0.1% of Pacific Wealth Management’s portfolio, making the stock its 18th biggest position. Pacific Wealth Management’s holdings in Invesco QQQ were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of QQQ. Atwater Malick LLC acquired a new position in Invesco QQQ in the 1st quarter worth $293,000. Westwood Holdings Group Inc. boosted its position in shares of Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after buying an additional 1,993 shares during the period. GenWealth Group Inc. grew its holdings in shares of Invesco QQQ by 5.8% during the first quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock worth $18,851,000 after buying an additional 2,325 shares in the last quarter. Socha Financial Group LLC raised its position in Invesco QQQ by 1.3% in the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after buying an additional 1,153 shares during the last quarter. Finally, SVB Wealth LLC lifted its stake in Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after acquiring an additional 2,453 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.1 %

Shares of QQQ opened at $481.59 on Friday. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The company has a 50 day moving average of $469.07 and a 200-day moving average of $461.18.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis 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.