Worth Asset Management LLC Cuts Stake in Invesco QQQ (NASDAQ:QQQ)

Worth Asset Management LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 16.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,540 shares of the exchange traded fund’s stock after selling 713 shares during the quarter. Invesco QQQ comprises about 0.9% of Worth Asset Management LLC’s holdings, making the stock its 28th biggest holding. Worth Asset Management LLC’s holdings in Invesco QQQ were worth $1,728,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its position in Invesco QQQ by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after purchasing an additional 338,494 shares during the last quarter. Global Assets Advisory LLC bought a new position in Invesco QQQ during the 1st quarter valued at about $1,580,776,000. Steel Grove Capital Advisors LLC lifted its stake in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Invesco QQQ by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after acquiring an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $491.54 on Friday. The company’s 50-day simple moving average is $471.66 and its two-hundred day simple moving average is $462.79. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Cuts Dividend

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

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.