Modera Wealth Management LLC Cuts Position in Invesco QQQ (NASDAQ:QQQ)

Modera Wealth Management LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,307 shares of the exchange traded fund’s stock after selling 168 shares during the quarter. Modera Wealth Management LLC’s holdings in Invesco QQQ were worth $6,006,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Omega Financial Group LLC raised its position in Invesco QQQ by 6.2% in the first quarter. Omega Financial Group LLC now owns 9,024 shares of the exchange traded fund’s stock valued at $4,007,000 after purchasing an additional 525 shares during the period. Pettinga Financial Advisors LLC lifted its position in Invesco QQQ by 4.3% during the 1st quarter. Pettinga Financial Advisors LLC now owns 15,002 shares of the exchange traded fund’s stock worth $6,661,000 after acquiring an additional 619 shares in the last quarter. Chapin Davis Inc. boosted its holdings in Invesco QQQ by 436.6% in the 1st quarter. Chapin Davis Inc. now owns 4,738 shares of the exchange traded fund’s stock worth $2,104,000 after acquiring an additional 3,855 shares during the period. Aviance Capital Partners LLC grew its position in Invesco QQQ by 41.4% in the first quarter. Aviance Capital Partners LLC now owns 6,381 shares of the exchange traded fund’s stock valued at $2,833,000 after acquiring an additional 1,867 shares in the last quarter. Finally, RHS Financial LLC raised its stake in shares of Invesco QQQ by 6.0% during the first quarter. RHS Financial LLC now owns 2,208 shares of the exchange traded fund’s stock valued at $980,000 after purchasing an additional 125 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $495.32 on Monday. The company’s fifty day simple moving average is $480.51 and its 200-day simple moving average is $467.05. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 yield of 0.55%.

Invesco QQQ 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.