Invesco QQQ $QQQ Stock: Ritholtz Wealth Management Trims Stake

Ritholtz Wealth Management lessened its position in shares of Invesco QQQ (NASDAQ:QQQ) by 88.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,076 shares of the exchange traded fund’s stock after selling 299,632 shares during the quarter. Ritholtz Wealth Management’s holdings in Invesco QQQ were worth $28,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of QQQ. GoalVest Advisory LLC raised its stake in shares of Invesco QQQ by 20,256.6% in the third quarter. GoalVest Advisory LLC now owns 613,955 shares of the exchange traded fund’s stock valued at $454,185,000 after purchasing an additional 610,939 shares in the last quarter. Corient Private Wealth LP boosted its stake in Invesco QQQ by 506.8% during the second quarter. Corient Private Wealth LP now owns 545,270 shares of the exchange traded fund’s stock worth $401,553,000 after buying an additional 455,412 shares in the last quarter. Alaska Permanent Fund Corp acquired a new stake in Invesco QQQ during the second quarter worth $207,072,000. International Assets Investment Management LLC boosted its stake in Invesco QQQ by 390.3% during the third quarter. International Assets Investment Management LLC now owns 300,000 shares of the exchange traded fund’s stock worth $221,931,000 after buying an additional 238,814 shares in the last quarter. Finally, Senator Investment Group LP bought a new stake in Invesco QQQ in the 2nd quarter valued at $157,221,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $690.38 on Thursday. Invesco QQQ has a 52-week low of $555.60 and a 52-week high of $762.86. The company’s fifty day moving average price is $719.04 and its two-hundred day moving average price is $681.26.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Monday, September 21st were given a dividend of $0.7514 per share. This is a decrease from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date was Monday, September 21st. This represents a $3.01 annualized dividend and a dividend yield of 0.4%.

Latest Invesco QQQ News

These are some of the QQQ news items that stood out recently:

• Positive Sentiment: U.S. equities advanced after midday on Nov. 11, offering a supportive backdrop for QQQ following the prior session’s weakness. Exchange-Traded Funds Higher as US Equities Advance After Midday
• Neutral Sentiment: QQQ’s reported holdings grew across its portfolio, including an additional $206.7 million in Apple on Nov. 9. This describes fund holdings activity but does not, by itself, establish a change in investor demand for QQQ. Invesco QQQ Trust (QQQ) Buys $206.7 Million More Apple on Nov. 9
• Negative Sentiment: October CPI rose 0.4% month over month, and reports described price pressures as broadening or sticky. That intensified speculation about a December Fed rate hike; higher rates can weigh on growth-stock valuations, a key risk for QQQ. October CPI: Broadening Price Pressures Keep Fed Tightening On Track

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.