Invesco QQQ (NASDAQ:QQQ) Shares Sold by Red Wave Investments LLC

Red Wave Investments LLC lowered its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,705 shares of the exchange traded fund’s stock after selling 902 shares during the period. Invesco QQQ comprises about 6.6% of Red Wave Investments LLC’s portfolio, making the stock its 3rd biggest holding. Red Wave Investments LLC’s holdings in Invesco QQQ were worth $18,891,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Redwood Investment Management LLC raised its holdings in shares of Invesco QQQ by 51.2% during the 3rd quarter. Redwood Investment Management LLC now owns 3,991 shares of the exchange traded fund’s stock worth $1,976,000 after buying an additional 1,352 shares in the last quarter. Polymer Capital Management HK LTD increased its holdings in Invesco QQQ by 23.3% in the 3rd quarter. Polymer Capital Management HK LTD now owns 1,911 shares of the exchange traded fund’s stock worth $933,000 after purchasing an additional 361 shares in the last quarter. Murchinson Ltd. acquired a new position in Invesco QQQ in the 3rd quarter worth about $30,504,000. IHT Wealth Management LLC increased its holdings in Invesco QQQ by 42.5% in the 3rd quarter. IHT Wealth Management LLC now owns 267,180 shares of the exchange traded fund’s stock worth $129,749,000 after purchasing an additional 79,644 shares in the last quarter. Finally, Ingalls & Snyder LLC increased its holdings in Invesco QQQ by 7.4% in the 3rd quarter. Ingalls & Snyder LLC now owns 3,161 shares of the exchange traded fund’s stock worth $1,543,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.2 %

Shares of QQQ opened at $523.26 on Thursday. Invesco QQQ has a 12-month low of $384.21 and a 12-month high of $523.52. The business has a 50-day simple moving average of $498.15 and a two-hundred day simple moving average of $480.58.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 dividend on an annualized basis and a yield of 0.52%.

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.