Avidian Wealth Enterprises LLC Cuts Position in Invesco QQQ (NASDAQ:QQQ)

Avidian Wealth Enterprises LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 8.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,154 shares of the exchange traded fund’s stock after selling 494 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Invesco QQQ were worth $2,516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Steel Grove Capital Advisors LLC grew its position in shares of Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC lifted its position in Invesco QQQ by 6,215.5% in 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 acquiring an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in Invesco QQQ in the first quarter valued at $304,591,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 1.3 %

QQQ opened at $492.21 on Wednesday. Invesco QQQ has a one year low of $366.91 and a one year high of $503.52. The business’s 50-day simple moving average is $482.32 and its 200-day simple moving average is $470.09.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, September 23rd.

Invesco QQQ Company 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.