Invesco QQQ (NASDAQ:QQQ) Shares Sold by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC decreased its stake in Invesco QQQ (NASDAQ:QQQ) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,115 shares of the exchange traded fund’s stock after selling 34 shares during the quarter. Invesco QQQ accounts for about 1.6% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 10th largest position. Redmont Wealth Advisors LLC’s holdings in Invesco QQQ were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Prospect Financial Services LLC raised its position in shares of Invesco QQQ by 0.3% in the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after acquiring an additional 21 shares during the period. Skyline Advisors Inc. raised its holdings in Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after purchasing an additional 21 shares during the period. Sweeney & Michel LLC boosted its position in shares of Invesco QQQ by 4.0% during the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after purchasing an additional 22 shares in the last quarter. Family Firm Inc. grew its holdings in shares of Invesco QQQ by 3.1% in the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after buying an additional 22 shares during the period. Finally, Merriman Wealth Management LLC increased its position in shares of Invesco QQQ by 0.5% in the 2nd quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock valued at $2,420,000 after buying an additional 23 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.1 %

Shares of Invesco QQQ stock opened at $491.25 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The stock’s fifty day simple moving average is $476.80 and its 200 day simple moving average is $464.48.

Invesco QQQ Cuts Dividend

The firm 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 dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

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.