Ted Buchan & Co Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Ted Buchan & Co lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,341 shares of the exchange traded fund’s stock after selling 22 shares during the quarter. Ted Buchan & Co’s holdings in Invesco QQQ were worth $655,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Northeast Investment Management increased its stake in shares of Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after purchasing an additional 20 shares during the period. Prospect Financial Services LLC boosted its position in shares of Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after buying an additional 21 shares during the period. Skyline Advisors Inc. grew its holdings in Invesco QQQ by 5.0% in the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after buying an additional 21 shares in the last quarter. Madden Advisory Services Inc. increased its position in Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after acquiring an additional 21 shares during the period. Finally, Sweeney & Michel LLC raised its stake in Invesco QQQ by 4.0% during the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $514.14 on Friday. Invesco QQQ has a 52 week low of $369.57 and a 52 week high of $514.92. The company’s 50-day moving average price is $484.62 and its two-hundred day moving average price is $471.30.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.53%.

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.