Invesco QQQ (NASDAQ:QQQ) Stake Lifted by Shulman DeMeo Asset Management LLC

Shulman DeMeo Asset Management LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,806 shares of the exchange traded fund’s stock after purchasing an additional 335 shares during the quarter. Invesco QQQ comprises about 5.7% of Shulman DeMeo Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. Shulman DeMeo Asset Management LLC’s holdings in Invesco QQQ were worth $23,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Watershed Private Wealth LLC raised its position in Invesco QQQ by 7.3% in the third quarter. Watershed Private Wealth LLC now owns 17,338 shares of the exchange traded fund’s stock valued at $8,463,000 after purchasing an additional 1,174 shares during the period. von Borstel & Associates Inc. purchased a new stake in shares of Invesco QQQ during the third quarter worth about $321,000. Aspect Partners LLC increased its position in shares of Invesco QQQ by 8.0% during the third quarter. Aspect Partners LLC now owns 1,934 shares of the exchange traded fund’s stock worth $944,000 after acquiring an additional 143 shares during the last quarter. Zhang Financial LLC increased its position in shares of Invesco QQQ by 6.7% during the third quarter. Zhang Financial LLC now owns 5,404 shares of the exchange traded fund’s stock worth $2,637,000 after acquiring an additional 341 shares during the last quarter. Finally, Clayton Financial Group LLC increased its position in shares of Invesco QQQ by 1.4% during the third quarter. Clayton Financial Group LLC now owns 7,480 shares of the exchange traded fund’s stock worth $3,651,000 after acquiring an additional 104 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 1.3 %

Shares of NASDAQ QQQ traded down $6.65 during midday trading on Tuesday, reaching $490.85. 34,463,281 shares of the company’s stock were exchanged, compared to its average volume of 39,220,680. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The business’s fifty day moving average price is $473.79 and its two-hundred day moving average price is $463.77.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 yield of 0.55%.

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.