Spectrum Wealth Advisory Group LLC Sells 35,437 Shares of Invesco QQQ (NASDAQ:QQQ)

Spectrum Wealth Advisory Group LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 52.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,715 shares of the exchange traded fund’s stock after selling 35,437 shares during the period. Invesco QQQ accounts for approximately 8.7% of Spectrum Wealth Advisory Group LLC’s portfolio, making the stock its 3rd biggest holding. Spectrum Wealth Advisory Group LLC’s holdings in Invesco QQQ were worth $15,479,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ in the 1st quarter worth about $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ in the 2nd quarter worth about $30,000. Chelsea Counsel Co. acquired a new stake in Invesco QQQ in the 1st quarter worth about $40,000. CGC Financial Services LLC boosted its stake in Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the last quarter. Finally, PFG Private Wealth Management LLC boosted its stake in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $498.33 on Monday. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58. The stock’s 50-day moving average price is $489.33 and its two-hundred day moving average price is $474.83.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, September 23rd.

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.