Cedar Point Capital Partners LLC Trims Holdings in Invesco QQQ (NASDAQ:QQQ)

Cedar Point Capital Partners LLC decreased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 434 shares of the exchange traded fund’s stock after selling 30 shares during the quarter. Cedar Point Capital Partners LLC’s holdings in Invesco QQQ were worth $212,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its position in Invesco QQQ by 5.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 589 shares of the exchange traded fund’s stock worth $287,000 after purchasing an additional 28 shares during the period. White Pine Investment CO boosted its stake in shares of Invesco QQQ by 3.5% in the third quarter. White Pine Investment CO now owns 11,238 shares of the exchange traded fund’s stock worth $5,485,000 after buying an additional 376 shares during the last quarter. Campbell Capital Management Inc. grew its holdings in Invesco QQQ by 100.0% during the third quarter. Campbell Capital Management Inc. now owns 2,000 shares of the exchange traded fund’s stock worth $976,000 after acquiring an additional 1,000 shares during the period. Carmichael Hill & Associates Inc. grew its holdings in Invesco QQQ by 4.8% during the third quarter. Carmichael Hill & Associates Inc. now owns 3,177 shares of the exchange traded fund’s stock worth $1,550,000 after acquiring an additional 145 shares during the period. Finally, Pure Financial Advisors LLC raised its position in Invesco QQQ by 8.5% during the third quarter. Pure Financial Advisors LLC now owns 15,303 shares of the exchange traded fund’s stock valued at $7,469,000 after acquiring an additional 1,203 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $487.43 on Friday. Invesco QQQ has a 12 month low of $360.30 and a 12 month high of $503.52. The stock’s 50 day simple moving average is $481.80 and its two-hundred day simple moving average is $468.80.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was 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.