Hobbs Group Advisors LLC Reduces Stake in Invesco QQQ (NASDAQ:QQQ)

Hobbs Group Advisors LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 54.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,082 shares of the exchange traded fund’s stock after selling 4,826 shares during the period. Invesco QQQ makes up approximately 0.7% of Hobbs Group Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Hobbs Group Advisors LLC’s holdings in Invesco QQQ were worth $1,992,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings 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 acquiring an additional 32,516,210 shares during the period. Ameriprise Financial Inc. lifted its holdings in Invesco QQQ by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after acquiring an additional 338,494 shares during the period. Toronto Dominion Bank lifted its holdings in Invesco QQQ by 13.0% in the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund’s stock valued at $2,080,052,000 after acquiring an additional 488,815 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Invesco QQQ by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after acquiring an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC lifted its holdings in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $520.60 on Wednesday. The business has a 50 day moving average of $500.28 and a two-hundred day moving average of $482.21. Invesco QQQ has a 12-month low of $391.53 and a 12-month high of $526.72.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.52%. 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.