Invesco QQQ (NASDAQ:QQQ) Position Decreased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 166,014 shares of the exchange traded fund’s stock after selling 2,336 shares during the quarter. Invesco QQQ accounts for 1.3% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 9th largest holding. Pinnacle Associates Ltd.’s holdings in Invesco QQQ were worth $81,026,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of QQQ. Westwood Holdings Group Inc. grew its position in Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after acquiring an additional 1,993 shares in the last quarter. Socha Financial Group LLC raised its holdings in Invesco QQQ by 1.3% during the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after buying an additional 1,153 shares in the last quarter. SVB Wealth LLC lifted its position in shares of Invesco QQQ by 15.2% during the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after purchasing an additional 2,453 shares during the last quarter. WFA Asset Management Corp increased its position in shares of Invesco QQQ by 70.6% during the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after purchasing an additional 1,894 shares during the period. Finally, Daymark Wealth Partners LLC raised its position in Invesco QQQ by 30.4% in the 2nd quarter. Daymark Wealth Partners LLC now owns 17,239 shares of the exchange traded fund’s stock valued at $8,259,000 after purchasing an additional 4,015 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ traded down $1.48 on Wednesday, hitting $498.68. The company’s stock had a trading volume of 9,335,822 shares, compared to its average volume of 38,551,063. The firm’s fifty day moving average price is $481.19 and its 200-day moving average price is $467.84. Invesco QQQ has a fifty-two week low of $346.62 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

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