Fortitude Family Office LLC Reduces Position in Invesco QQQ (NASDAQ:QQQ)

Fortitude Family Office LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 89.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176 shares of the exchange traded fund’s stock after selling 1,500 shares during the period. Fortitude Family Office LLC’s holdings in Invesco QQQ were worth $86,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of QQQ. New Covenant Trust Company N.A. bought a new position in Invesco QQQ in the first quarter worth approximately $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ in the 2nd quarter worth $30,000. Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ in the 1st quarter worth $40,000. CGC Financial Services LLC lifted its holdings in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $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 Trading Up 1.0 %

Shares of QQQ stock opened at $500.16 on Wednesday. Invesco QQQ has a twelve month low of $346.45 and a twelve month high of $503.52. The stock has a fifty day simple moving average of $481.19 and a two-hundred day simple moving average of $467.84.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is 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.