McAlister Sweet & Associates Inc. Reduces Stake in Invesco QQQ (NASDAQ:QQQ)

McAlister Sweet & Associates Inc. trimmed its stake in Invesco QQQ (NASDAQ:QQQ) by 27.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 911 shares of the exchange traded fund’s stock after selling 347 shares during the quarter. Invesco QQQ makes up 0.4% of McAlister Sweet & Associates Inc.’s holdings, making the stock its 22nd biggest position. McAlister Sweet & Associates Inc.’s holdings in Invesco QQQ were worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at approximately $28,000. Deane Retirement Strategies Inc. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at approximately $29,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the 2nd quarter valued at approximately $30,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at approximately $35,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at approximately $40,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.1 %

NASDAQ QQQ opened at $481.95 on Thursday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The company’s 50 day simple moving average is $468.60 and its two-hundred day simple moving average is $461.03.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Monday, September 23rd.

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.