Summit Financial Wealth Advisors LLC Sells 55 Shares of Invesco QQQ (NASDAQ:QQQ)

Summit Financial Wealth Advisors LLC decreased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 4.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,084 shares of the exchange traded fund’s stock after selling 55 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Invesco QQQ were worth $400,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in QQQ. Moneta Group Investment Advisors LLC boosted its position in shares of Invesco QQQ by 156,045.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 43,491,085 shares of the exchange traded fund’s stock valued at $11,580,806,000 after acquiring an additional 43,463,232 shares in the last quarter. Morgan Stanley boosted its position in shares of Invesco QQQ by 10.0% during the 4th quarter. Morgan Stanley now owns 16,815,487 shares of the exchange traded fund’s stock valued at $4,477,628,000 after acquiring an additional 1,533,114 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Invesco QQQ by 3.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,761,075 shares of the exchange traded fund’s stock valued at $1,527,972,000 after acquiring an additional 167,217 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Invesco QQQ by 1.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,012,198 shares of the exchange traded fund’s stock valued at $802,145,000 after acquiring an additional 32,891 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,002,908 shares of the exchange traded fund’s stock valued at $642,793,000 after buying an additional 45,781 shares in the last quarter. Institutional investors own 43.95% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $2.50 on Tuesday, reaching $368.16. The stock had a trading volume of 9,016,518 shares, compared to its average volume of 53,370,789. Invesco QQQ has a 1-year low of $254.26 and a 1-year high of $387.98. The stock has a fifty day moving average price of $373.20 and a 200-day moving average price of $348.47.

Invesco QQQ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 19th will be given a $0.5389 dividend. The ex-dividend date is Monday, September 18th. This represents a $2.16 dividend on an annualized basis and a yield of 0.59%.

Invesco QQQ 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.