Beacon Financial Advisory LLC Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Beacon Financial Advisory LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 32.4% in the third quarter, Holdings Channel reports. The fund owned 1,401 shares of the exchange traded fund’s stock after selling 671 shares during the period. Beacon Financial Advisory LLC’s holdings in Invesco QQQ were worth $684,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ during the first quarter worth $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ during the 2nd quarter worth $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ during the 1st quarter worth $40,000. CGC Financial Services LLC increased its position in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.3 %

NASDAQ QQQ opened at $492.21 on Wednesday. Invesco QQQ has a 12 month low of $366.91 and a 12 month high of $503.52. The firm’s 50-day moving average is $482.32 and its two-hundred day moving average is $470.09.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 annualized dividend and a dividend yield of 0.55%.

About Invesco QQQ

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.