Mather Group LLC. Sells 8,350 Shares of Invesco QQQ (NASDAQ:QQQ)

Mather Group LLC. reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 26.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,741 shares of the exchange traded fund’s stock after selling 8,350 shares during the quarter. Mather Group LLC.’s holdings in Invesco QQQ were worth $11,100,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. bought a new position in shares of Invesco QQQ in the 1st quarter worth $29,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the 2nd quarter worth $30,000. Voisard Asset Management Group Inc. bought a new stake in Invesco QQQ during the fourth quarter valued at about $35,000. Finally, Chelsea Counsel Co. purchased a new position in Invesco QQQ in the first quarter valued at about $40,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Down 1.1 %

Shares of 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 two-hundred day simple moving average of $461.81.

Invesco QQQ Cuts Dividend

The company also recently announced 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 of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.56%.

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.