49 Wealth Management LLC Has $1.49 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

49 Wealth Management LLC lowered its holdings in Invesco QQQ (NASDAQ:QQQ) by 13.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,044 shares of the exchange traded fund’s stock after selling 453 shares during the period. 49 Wealth Management LLC’s holdings in Invesco QQQ were worth $1,486,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. PBCay One RSC Ltd lifted its position in Invesco QQQ by 6.2% during the first quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock worth $166,504,000 after purchasing an additional 22,000 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Invesco QQQ by 140.6% during the 1st quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock worth $108,000 after acquiring an additional 142 shares in the last quarter. Vanguard Group Inc. increased its stake in Invesco QQQ by 5.0% in the first quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock valued at $7,779,000 after acquiring an additional 832 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after acquiring an additional 1,993 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its stake in shares of Invesco QQQ by 183.2% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,569 shares of the exchange traded fund’s stock valued at $696,000 after purchasing an additional 1,015 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.4 %

QQQ stock opened at $505.17 on Friday. The company has a 50 day simple moving average of $492.47 and a 200 day simple moving average of $476.22. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.54%.

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.