Invesco QQQ (NASDAQ:QQQ) is Apollon Wealth Management LLC’s 8th Largest Position

Apollon Wealth Management LLC lowered its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 109,893 shares of the exchange traded fund’s stock after selling 7,677 shares during the quarter. Invesco QQQ makes up approximately 1.5% of Apollon Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. Apollon Wealth Management LLC’s holdings in Invesco QQQ were worth $53,635,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at about $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the 2nd quarter valued at approximately $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $40,000. CGC Financial Services LLC grew its stake in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC grew its stake in shares of Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.1 %

Shares of NASDAQ:QQQ opened at $513.84 on Tuesday. The stock has a 50 day moving average of $484.62 and a 200 day moving average of $471.94. Invesco QQQ has a 12-month low of $375.24 and a 12-month high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%.

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.