Smith Chas P & Associates PA Cpas Sells 2,954 Shares of Invesco QQQ (NASDAQ:QQQ)

Smith Chas P & Associates PA Cpas reduced its position in Invesco QQQ (NASDAQ:QQQ) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 86,930 shares of the exchange traded fund’s stock after selling 2,954 shares during the period. Invesco QQQ accounts for about 2.4% of Smith Chas P & Associates PA Cpas’ portfolio, making the stock its 16th largest position. Smith Chas P & Associates PA Cpas’ holdings in Invesco QQQ were worth $42,428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ during the 4th quarter valued at about $35,000. Scarborough Advisors LLC raised its stake in shares of Invesco QQQ by 38.1% during the 4th quarter. Scarborough Advisors LLC now owns 1,897 shares of the exchange traded fund’s stock worth $777,000 after buying an additional 523 shares during the period. Northwest Bank & Trust Co purchased a new position in Invesco QQQ during the fourth quarter valued at $66,000. Sivia Capital Partners LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $218,000. Finally, Leo Wealth LLC acquired a new position in shares of Invesco QQQ during the 4th quarter worth about $11,798,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $493.36 on Monday. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52. The stock’s 50 day simple moving average is $472.55 and its 200-day simple moving average is $463.40.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.