Dopkins Wealth Management LLC Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

Dopkins Wealth Management LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,209 shares of the exchange traded fund’s stock after selling 150 shares during the period. Invesco QQQ comprises approximately 2.1% of Dopkins Wealth Management LLC’s portfolio, making the stock its 12th largest position. Dopkins Wealth Management LLC’s holdings in Invesco QQQ were worth $2,542,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QQQ. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ during the first quarter worth about $28,000. Mechanics Financial Corp acquired a new position in Invesco QQQ during the second quarter worth about $30,000. Chelsea Counsel Co. acquired a new position in Invesco QQQ during the first quarter worth about $40,000. CGC Financial Services LLC grew its position in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC grew its position in shares of Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 103 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.1 %

QQQ stock opened at $512.25 on Thursday. The company’s 50 day simple moving average is $486.39 and its 200-day simple moving average is $473.15. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given 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 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.