Burns Matteson Capital Management LLC Lowers Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Burns Matteson Capital Management LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,282 shares of the exchange traded fund’s stock after selling 50 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in Invesco QQQ were worth $626,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the first quarter worth $29,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ in the second quarter worth $30,000. Voisard Asset Management Group Inc. purchased a new position in shares of Invesco QQQ in the 4th quarter valued at $35,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ during the 1st quarter valued at $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.2 %

NASDAQ QQQ traded up $0.77 during trading hours on Friday, hitting $493.36. The company had a trading volume of 20,644,497 shares, compared to its average volume of 39,311,230. The firm’s 50 day moving average is $472.55 and its 200 day moving average is $463.13. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

The business 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 dividend on an annualized basis 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.