Blodgett Wealth Advisors LLC Has $333,000 Position in Invesco QQQ (NASDAQ:QQQ)

Blodgett Wealth Advisors LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682 shares of the exchange traded fund’s stock after selling 41 shares during the quarter. Blodgett Wealth Advisors LLC’s holdings in Invesco QQQ were worth $333,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the first quarter worth $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the second quarter worth $30,000. Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC grew its holdings in shares of 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 purchasing an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $495.96 on Wednesday. The stock’s fifty day moving average is $479.23 and its 200-day moving average is $465.96. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

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