Precedent Wealth Partners LLC Lowers Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Precedent Wealth Partners LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,107 shares of the exchange traded fund’s stock after selling 50 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Invesco QQQ were worth $540,000 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 shares of Invesco QQQ in the 1st quarter valued at approximately $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ in the second quarter valued at $30,000. Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ during the 1st quarter worth $40,000. CGC Financial Services LLC boosted 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 in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of Invesco QQQ by 30.4% during the 1st 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 during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.7 %

Shares of NASDAQ QQQ opened at $494.47 on Friday. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The firm has a 50-day moving average price of $477.68 and a 200 day moving average price of $464.82.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

Invesco QQQ 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.