WealthPLAN Partners LLC Trims Holdings in Invesco QQQ (NASDAQ:QQQ)

WealthPLAN Partners LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 40.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,489 shares of the exchange traded fund’s stock after selling 12,753 shares during the period. Invesco QQQ makes up approximately 1.2% of WealthPLAN Partners LLC’s investment portfolio, making the stock its 18th largest position. WealthPLAN Partners LLC’s holdings in Invesco QQQ were worth $9,024,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ during the first quarter worth about $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ during the 1st quarter worth approximately $40,000. CGC Financial Services LLC lifted its holdings in 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 buying an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC lifted its holdings in 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 worth $58,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $513.84 on Tuesday. Invesco QQQ has a 52 week low of $375.24 and a 52 week high of $515.58. The company has a fifty day simple moving average of $484.62 and a two-hundred day simple moving average of $471.94.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.

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.