Invesco QQQ (NASDAQ:QQQ) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,596 shares of the exchange traded fund’s stock after selling 669 shares during the period. Park Avenue Securities LLC’s holdings in Invesco QQQ were worth $10,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its stake in 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 buying an additional 338,494 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Invesco QQQ in the 1st quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC lifted its stake in 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 worth $1,525,067,000 after purchasing an additional 3,102,568 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in 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 worth $1,532,904,000 after purchasing an additional 33,790 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its stake in 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 worth $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ opened at $481.59 on Friday. The company’s 50 day simple moving average is $469.07 and its two-hundred day simple moving average is $461.18. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend 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.