Regatta Capital Group LLC Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Regatta Capital Group LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 11.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,698 shares of the exchange traded fund’s stock after selling 228 shares during the quarter. Regatta Capital Group LLC’s holdings in Invesco QQQ were worth $829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Global Assets Advisory LLC bought a new position in Invesco QQQ in the 1st quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC increased its stake in Invesco QQQ by 934.0% in 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 holdings in Invesco QQQ by 18,691.3% during the 2nd 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 position in Invesco QQQ by 6,215.5% in the 2nd 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 position in Invesco QQQ in the 1st quarter worth about $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.3 %

Invesco QQQ stock opened at $490.85 on Wednesday. The company has a 50 day moving average price of $474.82 and a 200-day moving average price of $464.10. 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 company also recently announced 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 0.55%. The ex-dividend date of this dividend 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.