MADDEN SECURITIES Corp Lowers Stake in Invesco QQQ (NASDAQ:QQQ)

MADDEN SECURITIES Corp trimmed its holdings in Invesco QQQ (NASDAQ:QQQ) by 49.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,204 shares of the exchange traded fund’s stock after selling 1,180 shares during the period. MADDEN SECURITIES Corp’s holdings in Invesco QQQ were worth $588,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in Invesco QQQ by 7.3% in 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 buying an additional 338,494 shares during the period. Global Assets Advisory LLC purchased a new position in Invesco QQQ during the first quarter worth about $1,580,776,000. Steel Grove Capital Advisors LLC lifted its position in Invesco QQQ by 934.0% in the first 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 purchasing an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Invesco QQQ by 1.1% in 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 purchasing an additional 33,790 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its position 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 worth $13,307,000 after purchasing an additional 2,762,571 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $493.36 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The business has a 50 day simple moving average of $472.55 and a 200-day simple moving average of $463.13.

Invesco QQQ Cuts Dividend

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