Brendel Financial Advisors LLC Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Brendel Financial Advisors LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,595 shares of the exchange traded fund’s stock after selling 61 shares during the period. Brendel Financial Advisors LLC’s holdings in Invesco QQQ were worth $778,000 as of its most recent SEC filing.

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

Invesco QQQ Price Performance

Shares of NASDAQ QQQ traded up $0.27 during mid-day trading on Thursday, hitting $493.42. 14,884,392 shares of the company were exchanged, compared to its average volume of 39,351,438. The stock has a 50 day simple moving average of $471.00 and a 200-day simple moving average of $462.58. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 yield of 0.55%. The ex-dividend date of this dividend 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.