Foster Victor Wealth Advisors LLC Cuts Position in Invesco QQQ (NASDAQ:QQQ)

Foster Victor Wealth Advisors LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 1.8% during the third quarter, HoldingsChannel reports. The fund owned 36,445 shares of the exchange traded fund’s stock after selling 679 shares during the quarter. Invesco QQQ comprises about 1.3% of Foster Victor Wealth Advisors LLC’s holdings, making the stock its 15th largest position. Foster Victor Wealth Advisors LLC’s holdings in Invesco QQQ were worth $17,973,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ in the 1st quarter worth $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ during the 2nd quarter worth about $30,000. Chelsea Counsel Co. acquired a new stake in Invesco QQQ during the 1st quarter worth about $40,000. CGC Financial Services LLC lifted its position in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $490.85 on Wednesday. The business has a 50-day simple moving average of $474.82 and a 200-day simple moving average of $464.10. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued 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%.

About Invesco QQQ

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.