Family Asset Management LLC Reduces Stake in Invesco QQQ (NASDAQ:QQQ)

Family Asset Management LLC lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,320 shares of the exchange traded fund’s stock after selling 139 shares during the quarter. Invesco QQQ makes up 1.6% of Family Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Family Asset Management LLC’s holdings in Invesco QQQ were worth $2,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. boosted its stake in Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after buying an additional 1,993 shares during the period. Bank Hapoalim BM boosted its position in shares of Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after acquiring an additional 6,347 shares during the last quarter. Socha Financial Group LLC grew its holdings in shares of Invesco QQQ by 1.3% during the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after purchasing an additional 1,153 shares in the last quarter. SVB Wealth LLC grew its holdings in shares of Invesco QQQ by 15.2% during the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after purchasing an additional 2,453 shares in the last quarter. Finally, WFA Asset Management Corp increased its position in shares of Invesco QQQ by 70.6% in the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after purchasing an additional 1,894 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.6 %

NASDAQ:QQQ traded up $7.96 during midday trading on Wednesday, hitting $500.17. The company had a trading volume of 10,910,254 shares, compared to its average volume of 28,482,272. Invesco QQQ has a 52-week low of $369.05 and a 52-week high of $503.52. The stock’s fifty day moving average price is $482.32 and its 200-day moving average price is $470.09.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend 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.