Invesco QQQ Trust (NASDAQ:QQQ) Position Trimmed by Cedar Mountain Advisors LLC

Cedar Mountain Advisors LLC lessened its holdings in Invesco QQQ Trust (NASDAQ:QQQGet Rating) by 13.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,671 shares of the exchange traded fund’s stock after selling 6,862 shares during the quarter. Invesco QQQ Trust comprises 4.4% of Cedar Mountain Advisors LLC’s portfolio, making the stock its 8th largest position. Cedar Mountain Advisors LLC’s holdings in Invesco QQQ Trust were worth $12,801,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dravo Bay LLC purchased a new stake in shares of Invesco QQQ Trust during the first quarter valued at approximately $32,000. Birch Capital Management LLC purchased a new stake in shares of Invesco QQQ Trust during the second quarter valued at approximately $35,000. William Allan LLC purchased a new stake in shares of Invesco QQQ Trust during the fourth quarter valued at approximately $36,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Invesco QQQ Trust during the first quarter valued at approximately $36,000. Finally, Capital Management Associates NY purchased a new stake in shares of Invesco QQQ Trust during the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 41.46% of the company’s stock.

Invesco QQQ Trust Trading Down 1.2 %

NASDAQ:QQQ opened at $280.07 on Friday. The company’s 50 day moving average price is $307.43 and its 200-day moving average price is $312.52. Invesco QQQ Trust has a 52 week low of $269.28 and a 52 week high of $408.71.

Invesco QQQ Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, September 20th will be issued a dividend of $0.519 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Monday, September 19th.

Invesco QQQ Trust Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ Trust (NASDAQ:QQQGet Rating).

Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

Receive News & Ratings for Invesco QQQ Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invesco QQQ Trust and related companies with MarketBeat.com's FREE daily email newsletter.