Aviance Capital Partners LLC Cuts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Aviance Capital Partners LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,141 shares of the exchange traded fund’s stock after selling 148 shares during the period. Aviance Capital Partners LLC’s holdings in Invesco QQQ were worth $2,997,000 as of its most recent SEC filing.

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 shares of Invesco QQQ in the 1st quarter worth about $28,000. Mechanics Financial Corp purchased a new stake in Invesco QQQ during the second quarter valued at approximately $30,000. Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $40,000. CGC Financial Services LLC boosted 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 purchasing an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC increased its position in shares of Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.7 %

NASDAQ QQQ opened at $500.02 on Tuesday. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58. The company has a fifty day moving average of $490.25 and a two-hundred day moving average of $475.35.

Invesco QQQ Cuts Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, September 23rd.

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.