WealthPLAN Partners LLC Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

WealthPLAN Partners LLC decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 40.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,489 shares of the exchange traded fund’s stock after selling 12,753 shares during the quarter. Invesco QQQ comprises about 1.2% of WealthPLAN Partners LLC’s portfolio, making the stock its 18th biggest holding. WealthPLAN Partners LLC’s holdings in Invesco QQQ were worth $9,024,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ in the 1st quarter worth $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ during the second quarter worth about $30,000. Chelsea Counsel Co. purchased a new position in Invesco QQQ during the first quarter worth about $40,000. CGC Financial Services LLC raised its stake in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC boosted its holdings in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 103 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $513.84 on Tuesday. The firm has a 50 day simple moving average of $484.62 and a 200-day simple moving average of $471.94. Invesco QQQ has a 1-year low of $375.24 and a 1-year high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.

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.