Invesco QQQ (NASDAQ:QQQ) Shares Sold by Baron Financial Group LLC

Baron Financial Group LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,557 shares of the exchange traded fund’s stock after selling 772 shares during the quarter. Invesco QQQ makes up approximately 6.7% of Baron Financial Group LLC’s investment portfolio, making the stock its 4th largest position. Baron Financial Group LLC’s holdings in Invesco QQQ were worth $11,009,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Global Assets Advisory LLC bought a new stake in Invesco QQQ during the 1st quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC boosted its stake in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after purchasing an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC increased its stake in shares of Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after buying an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. bought a new position in Invesco QQQ in the 1st quarter valued at approximately $304,591,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ opened at $494.47 on Friday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The company’s 50 day moving average price is $477.68 and its two-hundred day moving average price is $464.99.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 dividend yield of 0.55%.

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.