Abich Financial Wealth Management LLC Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Abich Financial Wealth Management LLC trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 67.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,519 shares of the exchange traded fund’s stock after selling 15,583 shares during the period. Invesco QQQ accounts for about 8.2% of Abich Financial Wealth Management LLC’s portfolio, making the stock its 3rd biggest holding. Abich Financial Wealth Management LLC’s holdings in Invesco QQQ were worth $3,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. New Covenant Trust Company N.A. bought a new position in Invesco QQQ in the 1st quarter valued at about $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ during the first quarter worth approximately $40,000. CGC Financial Services LLC lifted its holdings in Invesco QQQ by 736.4% during the 2nd 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 last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $0.93 during midday trading on Tuesday, hitting $496.33. The company’s stock had a trading volume of 3,831,692 shares, compared to its average volume of 38,575,141. Invesco QQQ has a 1-year low of $346.45 and a 1-year high of $503.52. The company has a 50-day moving average price of $480.79 and a two-hundred day moving average price of $467.41.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.