Segment Wealth Management LLC Cuts Holdings in Invesco QQQ (NASDAQ:QQQ)

Segment Wealth Management LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,828 shares of the exchange traded fund’s stock after selling 2,751 shares during the period. Invesco QQQ accounts for approximately 2.7% of Segment Wealth Management LLC’s holdings, making the stock its 4th biggest holding. Segment Wealth Management LLC’s holdings in Invesco QQQ were worth $39,450,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Steel Grove Capital Advisors LLC boosted its holdings in shares of Invesco QQQ by 934.0% during the 1st 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 buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of 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 valued at $13,307,000 after buying an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC boosted its holdings in shares of Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after buying an additional 894,532 shares in the last quarter. Harvard Management Co. Inc. bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $304,591,000. Finally, Mirae Asset Securities USA Inc. bought a new stake in shares of Invesco QQQ during the 2nd quarter valued at $215,600,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.1 %

QQQ opened at $495.96 on Wednesday. The stock has a 50-day moving average price of $479.23 and a 200-day moving average price of $465.96. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Cuts Dividend

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