Invesco QQQ (NASDAQ:QQQ) Shares Sold by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC trimmed its stake in Invesco QQQ (NASDAQ:QQQ) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,931 shares of the exchange traded fund’s stock after selling 452 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Invesco QQQ were worth $2,895,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the first quarter worth $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ in the second quarter worth $30,000. Deane Retirement Strategies Inc. acquired a new position in shares of Invesco QQQ in the first quarter worth $29,000. Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ in the fourth quarter worth $35,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ in the first quarter worth $40,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ traded up $5.29 during trading on Tuesday, reaching $487.39. The company had a trading volume of 11,187,374 shares, compared to its average volume of 39,463,492. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The stock has a 50-day moving average price of $469.92 and a two-hundred day moving average price of $462.07.

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. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis 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.