HB Wealth Management LLC Cuts Stock Position in Invesco QQQ Trust (NASDAQ:QQQ)

HB Wealth Management LLC cut its holdings in Invesco QQQ Trust (NASDAQ:QQQGet Rating) by 5.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,374 shares of the exchange traded fund’s stock after selling 3,894 shares during the quarter. Invesco QQQ Trust accounts for approximately 0.4% of HB Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position. HB Wealth Management LLC’s holdings in Invesco QQQ Trust were worth $20,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in Invesco QQQ Trust by 1.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,500,725 shares of the exchange traded fund’s stock worth $2,719,312,000 after buying an additional 74,380 shares during the period. JPMorgan Chase & Co. boosted its stake in Invesco QQQ Trust by 150.3% during the first quarter. JPMorgan Chase & Co. now owns 5,240,784 shares of the exchange traded fund’s stock worth $1,899,993,000 after buying an additional 3,146,789 shares during the period. Envestnet Asset Management Inc. boosted its stake in Invesco QQQ Trust by 2.6% during the first quarter. Envestnet Asset Management Inc. now owns 4,987,043 shares of the exchange traded fund’s stock worth $1,808,003,000 after buying an additional 127,231 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Invesco QQQ Trust by 6.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,827,713 shares of the exchange traded fund’s stock worth $1,025,159,000 after buying an additional 164,952 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Invesco QQQ Trust by 8.9% during the first quarter. Fisher Asset Management LLC now owns 2,399,893 shares of the exchange traded fund’s stock worth $870,057,000 after buying an additional 195,182 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trust Stock Down 2.0 %

Shares of NASDAQ:QQQ traded down $5.65 on Friday, hitting $274.42. 2,713,829 shares of the company’s stock were exchanged, compared to its average volume of 55,490,280. Invesco QQQ Trust has a 12 month low of $269.28 and a 12 month high of $408.71. The business’s 50 day simple moving average is $307.43 and its two-hundred day simple moving average is $312.52.

Invesco QQQ Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Tuesday, September 20th will be given a dividend of $0.519 per share. The ex-dividend date is Monday, September 19th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%.

Invesco QQQ Trust Profile

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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.

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Institutional Ownership by Quarter for Invesco QQQ Trust (NASDAQ:QQQ)

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