Alterna Wealth Management Inc. Lowers Holdings in Invesco QQQ (NASDAQ:QQQ)

Alterna Wealth Management Inc. reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 58.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,943 shares of the exchange traded fund’s stock after selling 4,065 shares during the period. Invesco QQQ makes up about 1.3% of Alterna Wealth Management Inc.’s holdings, making the stock its 23rd largest holding. Alterna Wealth Management Inc.’s holdings in Invesco QQQ were worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moloney Securities Asset Management LLC increased its holdings in shares of Invesco QQQ by 0.5% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 44,112 shares of the exchange traded fund’s stock worth $21,530,000 after buying an additional 226 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in Invesco QQQ by 124.0% during the third quarter. Catalyst Capital Advisors LLC now owns 7,816 shares of the exchange traded fund’s stock valued at $3,815,000 after purchasing an additional 4,326 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in shares of Invesco QQQ by 2.1% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 20,912 shares of the exchange traded fund’s stock valued at $10,198,000 after purchasing an additional 430 shares during the last quarter. Arlington Capital Management Inc. boosted its holdings in shares of Invesco QQQ by 11.5% in the 3rd quarter. Arlington Capital Management Inc. now owns 2,388 shares of the exchange traded fund’s stock worth $1,166,000 after purchasing an additional 247 shares during the period. Finally, PDS Planning Inc increased its position in shares of Invesco QQQ by 18.6% during the 3rd quarter. PDS Planning Inc now owns 1,890 shares of the exchange traded fund’s stock valued at $923,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $486.01 on Tuesday. The stock’s fifty day moving average is $482.01 and its 200 day moving average is $469.55. Invesco QQQ has a fifty-two week low of $366.91 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid 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 dividend yield of 0.56%.

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.