Crewe Advisors LLC Reduces Holdings in Invesco QQQ (NASDAQ:QQQ)

Crewe Advisors LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,969 shares of the exchange traded fund’s stock after selling 97 shares during the period. Invesco QQQ comprises about 1.1% of Crewe Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. Crewe Advisors LLC’s holdings in Invesco QQQ were worth $9,258,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. PBCay One RSC Ltd increased its holdings in shares of Invesco QQQ by 6.2% in the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock worth $166,504,000 after acquiring an additional 22,000 shares during the period. Russell Investments Group Ltd. raised its position in Invesco QQQ by 140.6% in the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock worth $108,000 after acquiring an additional 142 shares in the last quarter. Vanguard Group Inc. lifted its stake in Invesco QQQ by 5.0% during the first quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock valued at $7,779,000 after purchasing an additional 832 shares during the last quarter. SVB Wealth LLC boosted its holdings in Invesco QQQ by 15.2% during the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after buying an additional 2,453 shares in the last quarter. Finally, Ascent Group LLC grew its position in Invesco QQQ by 33.6% in the first quarter. Ascent Group LLC now owns 1,585 shares of the exchange traded fund’s stock worth $704,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $505.79 on Friday. The stock’s fifty day simple moving average is $493.08 and its 200 day simple moving average is $476.93. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 0.54%.

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.