Alpha Cubed Investments LLC Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Alpha Cubed Investments LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,741 shares of the exchange traded fund’s stock after selling 1,074 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Invesco QQQ were worth $10,611,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in QQQ. Prospect Financial Services LLC raised its position in shares of Invesco QQQ by 0.3% during the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after acquiring an additional 21 shares in the last quarter. Skyline Advisors Inc. raised its position in shares of Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after acquiring an additional 21 shares in the last quarter. Sweeney & Michel LLC raised its position in shares of Invesco QQQ by 4.0% during the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after acquiring an additional 22 shares in the last quarter. Family Firm Inc. raised its position in shares of Invesco QQQ by 3.1% during the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after acquiring an additional 22 shares in the last quarter. Finally, Merriman Wealth Management LLC lifted its stake in Invesco QQQ by 0.5% in the second quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock valued at $2,420,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $482.10 on Tuesday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The company has a 50-day simple moving average of $469.56 and a 200-day simple moving average of $461.81.

Invesco QQQ Cuts Dividend

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

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.