Invesco QQQ (NASDAQ:QQQ) Stake Lowered by Eagle Capital Management LLC

Eagle Capital Management LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 6.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 60,501 shares of the exchange traded fund’s stock after selling 4,183 shares during the quarter. Invesco QQQ comprises 12.3% of Eagle Capital Management LLC’s investment portfolio, making the stock its biggest holding. Eagle Capital Management LLC’s holdings in Invesco QQQ were worth $29,529,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Ameriprise Financial Inc. boosted its position in shares of Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after purchasing an additional 338,494 shares during the period. Steel Grove Capital Advisors LLC boosted its position in shares of Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Invesco QQQ by 1.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after purchasing an additional 33,790 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Invesco QQQ by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock valued at $1,219,115,000 after purchasing an additional 64,401 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of 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 business 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 company 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. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.