Invesco QQQ (NASDAQ:QQQ) Holdings Lowered by Sachetta LLC

Sachetta LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.9% during the third quarter, Holdings Channel reports. The firm owned 47,653 shares of the exchange traded fund’s stock after selling 428 shares during the quarter. Invesco QQQ makes up 9.2% of Sachetta LLC’s portfolio, making the stock its 2nd biggest holding. Sachetta LLC’s holdings in Invesco QQQ were worth $23,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the 1st quarter worth about $28,000. Mechanics Financial Corp purchased a new stake in Invesco QQQ during the second quarter valued at approximately $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ in the 1st quarter worth approximately $40,000. CGC Financial Services LLC increased its position in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares during the last quarter. Finally, Legacy Bridge LLC raised its holdings in Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 0.7 %

QQQ stock opened at $503.46 on Wednesday. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58. The firm’s fifty day simple moving average is $491.14 and its two-hundred day simple moving average is $475.83.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, September 23rd.

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.