Capital Wealth Management LLC Lowers Stock Position in Invesco QQQ (NASDAQ:QQQ)

Capital Wealth Management LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 15.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,550 shares of the exchange traded fund’s stock after selling 273 shares during the period. Invesco QQQ comprises 0.3% of Capital Wealth Management LLC’s holdings, making the stock its 27th biggest position. Capital Wealth Management LLC’s holdings in Invesco QQQ were worth $756,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Steel Grove Capital Advisors LLC raised its stake in shares of Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after acquiring an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC raised its stake in shares of Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after acquiring an additional 894,532 shares in the last quarter. Harvard Management Co. Inc. bought a new position in shares of Invesco QQQ during the 1st quarter worth approximately $304,591,000. Finally, Mirae Asset Securities USA Inc. bought a new position in shares of Invesco QQQ during the 2nd quarter worth approximately $215,600,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.7 %

NASDAQ QQQ opened at $494.47 on Monday. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The company has a 50 day moving average price of $477.68 and a 200 day moving average price of $465.15.

Invesco QQQ Cuts Dividend

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

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.