Modus Advisors LLC Lowers Stake in Invesco QQQ (NASDAQ:QQQ)

Modus Advisors LLC cut its position in Invesco QQQ (NASDAQ:QQQ) by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,965 shares of the exchange traded fund’s stock after selling 436 shares during the period. Invesco QQQ makes up about 1.9% of Modus Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Modus Advisors LLC’s holdings in Invesco QQQ were worth $5,840,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ in the first quarter worth approximately $28,000. Deane Retirement Strategies Inc. bought a new position in shares of Invesco QQQ during the first quarter worth $29,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the second quarter worth $30,000. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ during the fourth quarter worth $35,000. Finally, Chelsea Counsel Co. bought a new position in shares of Invesco QQQ during the first quarter worth $40,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded down $0.08 during midday trading on Thursday, reaching $493.07. 10,805,301 shares of the company were exchanged, compared to its average volume of 39,330,625. The business’s fifty day moving average is $471.00 and its two-hundred day moving average is $462.58. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid 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.

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.