WESPAC Advisors LLC Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

WESPAC Advisors LLC trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ) by 10.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,303 shares of the exchange traded fund’s stock after selling 276 shares during the period. WESPAC Advisors LLC’s holdings in Invesco QQQ were worth $1,124,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ during the first quarter worth $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ during the 2nd quarter worth about $30,000. Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ during the 1st quarter worth about $40,000. CGC Financial Services LLC increased its holdings in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares during the last quarter. Finally, PFG Private Wealth Management LLC raised its position in shares of Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock opened at $505.79 on Friday. The business has a 50 day moving average price of $493.08 and a 200 day moving average price of $476.93. Invesco QQQ has a fifty-two week low of $382.66 and a fifty-two week high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.54%.

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.