Invesco QQQ (NASDAQ:QQQ) Position Lessened by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. reduced its holdings in Invesco QQQ (NASDAQ:QQQ) by 10.5% during the third quarter, Holdings Channel.com reports. The fund owned 7,002 shares of the exchange traded fund’s stock after selling 822 shares during the quarter. Invesco QQQ accounts for 1.3% of Raleigh Capital Management Inc.’s investment portfolio, making the stock its 10th largest holding. Raleigh Capital Management Inc.’s holdings in Invesco QQQ were worth $3,417,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Prospect Financial Services LLC raised its stake in shares of Invesco QQQ by 0.3% during the second 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 in the last quarter. Skyline Advisors Inc. raised its position in Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after purchasing an additional 21 shares in the last quarter. Sweeney & Michel LLC lifted its holdings in shares of Invesco QQQ by 4.0% in the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after buying an additional 22 shares during the period. Family Firm Inc. grew its position in shares of Invesco QQQ by 3.1% during the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock worth $354,000 after buying an additional 22 shares in the last quarter. Finally, Merriman Wealth Management LLC increased its stake in shares of Invesco QQQ by 0.5% during the second 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 during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.2 %

NASDAQ:QQQ opened at $495.42 on Tuesday. The company has a 50-day moving average of $478.57 and a 200 day moving average of $465.57. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date 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.