Baker Tilly Wealth Management LLC Lowers Stock Position in Invesco QQQ (NASDAQ:QQQ)

Baker Tilly Wealth Management LLC decreased its stake in Invesco QQQ (NASDAQ:QQQ) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,727 shares of the exchange traded fund’s stock after selling 667 shares during the period. Invesco QQQ accounts for about 2.7% of Baker Tilly Wealth Management LLC’s holdings, making the stock its 5th biggest position. Baker Tilly Wealth Management LLC’s holdings in Invesco QQQ were worth $6,212,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the first quarter worth about $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ in the second quarter worth about $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ in the first quarter worth about $40,000. CGC Financial Services LLC increased its stake in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.8 %

QQQ opened at $499.25 on Monday. The firm has a 50-day moving average price of $480.51 and a 200-day moving average price of $467.05. Invesco QQQ has a twelve month low of $346.45 and a twelve month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.54%.

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.