Invesco QQQ (NASDAQ:QQQ) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 164,048 shares of the exchange traded fund’s stock after selling 1,912 shares during the period. Invesco QQQ accounts for approximately 3.3% of Focus Financial Network Inc.’s portfolio, making the stock its 6th biggest holding. Focus Financial Network Inc.’s holdings in Invesco QQQ were worth $80,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. New Covenant Trust Company N.A. bought a new stake in Invesco QQQ during the first quarter worth approximately $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ during the second quarter worth approximately $30,000. Chelsea Counsel Co. bought a new stake in Invesco QQQ during the first quarter worth approximately $40,000. CGC Financial Services LLC raised its holdings in Invesco QQQ by 736.4% during the second 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 in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $483.85 on Friday. Invesco QQQ has a 12 month low of $346.62 and a 12 month high of $503.52. The stock’s 50 day moving average price is $481.65 and its 200 day moving average price is $468.15.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 0.56%.

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.