Spectrum Strategic Capital Management LLC Cuts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Spectrum Strategic Capital Management LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,198 shares of the exchange traded fund’s stock after selling 540 shares during the period. Invesco QQQ comprises approximately 5.5% of Spectrum Strategic Capital Management LLC’s holdings, making the stock its 4th largest holding. Spectrum Strategic Capital Management LLC’s holdings in Invesco QQQ were worth $8,792,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC grew its holdings in shares of Invesco QQQ by 332.0% during the 2nd quarter. AQR Capital Management LLC now owns 12,041 shares of the exchange traded fund’s stock worth $5,769,000 after acquiring an additional 9,254 shares during the period. The Manufacturers Life Insurance Company grew its stake in Invesco QQQ by 28.5% in the second quarter. The Manufacturers Life Insurance Company now owns 70,490 shares of the exchange traded fund’s stock worth $33,772,000 after purchasing an additional 15,648 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in Invesco QQQ in the second quarter worth $368,000. Ted Buchan & Co bought a new position in Invesco QQQ in the second quarter worth $653,000. Finally, Granite Bay Wealth Management LLC lifted its position in Invesco QQQ by 6,215.5% during the second 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 during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.5 %

NASDAQ:QQQ opened at $521.88 on Wednesday. The firm’s 50-day moving average price is $518.14 and its 200-day moving average price is $493.37. Invesco QQQ has a 1-year low of $413.07 and a 1-year high of $539.15.

Invesco QQQ Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 23rd.

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.