BayBridge Capital Group LLC Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

BayBridge Capital Group LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 16.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,652 shares of the exchange traded fund’s stock after selling 1,137 shares during the quarter. Invesco QQQ comprises 2.0% of BayBridge Capital Group LLC’s portfolio, making the stock its 9th biggest position. BayBridge Capital Group LLC’s holdings in Invesco QQQ were worth $2,759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares in the last quarter. Steel Grove Capital Advisors LLC raised its holdings in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC lifted its stake in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after buying an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC boosted its holdings 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 stake in shares of Invesco QQQ during the first quarter worth $304,591,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $495.32 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The company’s fifty day simple moving average is $480.10 and its 200 day simple moving average is $466.30.

Invesco QQQ Cuts Dividend

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

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.