Masso Torrence Wealth Management Inc. Has $8.48 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Masso Torrence Wealth Management Inc. decreased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,379 shares of the exchange traded fund’s stock after selling 486 shares during the period. Invesco QQQ makes up about 4.6% of Masso Torrence Wealth Management Inc.’s portfolio, making the stock its 5th largest position. Masso Torrence Wealth Management Inc.’s holdings in Invesco QQQ were worth $8,482,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in QQQ. FIDELIS iM LLC bought a new position in Invesco QQQ during the 1st quarter valued at $398,000. Richardson Capital Management LLC lifted its position in shares of Invesco QQQ by 3,792.5% during the first quarter. Richardson Capital Management LLC now owns 2,063 shares of the exchange traded fund’s stock valued at $916,000 after purchasing an additional 2,010 shares in the last quarter. Cornerstone Wealth Group LLC boosted its holdings in Invesco QQQ by 47.2% during the first quarter. Cornerstone Wealth Group LLC now owns 3,463 shares of the exchange traded fund’s stock worth $1,538,000 after purchasing an additional 1,110 shares during the last quarter. Avalon Capital Management increased its stake in Invesco QQQ by 5.8% in the 1st quarter. Avalon Capital Management now owns 2,421 shares of the exchange traded fund’s stock valued at $1,075,000 after buying an additional 133 shares during the last quarter. Finally, Gradient Capital Advisors LLC lifted its position in shares of Invesco QQQ by 3.1% during the 1st quarter. Gradient Capital Advisors LLC now owns 1,005 shares of the exchange traded fund’s stock worth $446,000 after buying an additional 30 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $495.32 on Friday. The stock’s 50 day moving average price is $480.51 and its 200-day moving average price is $466.85. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.