Linscomb Wealth Inc. Has $3.95 Million Position in Invesco QQQ (NASDAQ:QQQ)

Linscomb Wealth Inc. lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 4.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,089 shares of the exchange traded fund’s stock after selling 349 shares during the period. Linscomb Wealth Inc.’s holdings in Invesco QQQ were worth $3,948,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. PBCay One RSC Ltd grew its position in Invesco QQQ by 6.2% during the first quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock valued at $166,504,000 after buying an additional 22,000 shares during the period. Russell Investments Group Ltd. grew its position in Invesco QQQ by 140.6% during the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock valued at $108,000 after acquiring an additional 142 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Invesco QQQ in the first quarter worth approximately $844,000. Tocqueville Asset Management L.P. lifted its stake in Invesco QQQ by 3.7% in the first quarter. Tocqueville Asset Management L.P. now owns 3,968 shares of the exchange traded fund’s stock worth $1,762,000 after acquiring an additional 143 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in Invesco QQQ during the first quarter valued at $496,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ traded down $9.87 during trading hours on Friday, hitting $498.82. The company had a trading volume of 13,864,062 shares, compared to its average volume of 38,074,051. The firm has a fifty day moving average price of $488.38 and a 200-day moving average price of $473.67. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis 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.