Invesco QQQ (NASDAQ:QQQ) Stake Trimmed by Cadinha & Co. LLC

Cadinha & Co. LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 28.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,626 shares of the exchange traded fund’s stock after selling 1,455 shares during the quarter. Cadinha & Co. LLC’s holdings in Invesco QQQ were worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during 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 valued at about $29,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the 2nd quarter valued at about $30,000. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ in the 4th quarter valued at about $35,000. Finally, Chelsea Counsel Co. bought a new position in Invesco QQQ during the first quarter worth about $40,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.4 %

QQQ traded down $1.74 during trading on Thursday, hitting $491.41. 6,271,067 shares of the stock traded hands, compared to its average volume of 39,307,492. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The business has a 50 day moving average price of $471.00 and a 200 day moving average price of $462.58.

Invesco QQQ Cuts Dividend

The company also recently disclosed 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 0.55%.

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.