Lake Street Private Wealth LLC Sells 4,117 Shares of Invesco QQQ (NASDAQ:QQQ)

Lake Street Private Wealth LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,629 shares of the exchange traded fund’s stock after selling 4,117 shares during the quarter. Invesco QQQ accounts for approximately 3.0% of Lake Street Private Wealth LLC’s holdings, making the stock its 5th biggest holding. Lake Street Private Wealth LLC’s holdings in Invesco QQQ were worth $18,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 valued at $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Invesco QQQ by 18,691.3% in the second 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 during the last quarter. Granite Bay Wealth Management LLC lifted its position in shares of Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after acquiring an additional 894,532 shares in the last quarter. Harvard Management Co. Inc. acquired a new stake in shares of Invesco QQQ during the first quarter valued at $304,591,000. Finally, Mirae Asset Securities USA Inc. acquired a new stake in shares of Invesco QQQ during the second quarter valued at $215,600,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $488.36 on Thursday. The firm has a 50-day moving average price of $479.75 and a 200 day moving average price of $466.12. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.