Peterson Financial Group Inc. Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Peterson Financial Group Inc. reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 673 shares of the exchange traded fund’s stock after selling 44 shares during the period. Invesco QQQ accounts for about 1.3% of Peterson Financial Group Inc.’s holdings, making the stock its 19th biggest position. Peterson Financial Group Inc.’s holdings in Invesco QQQ were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ during the first quarter worth approximately $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ during the second quarter worth approximately $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ during the first quarter worth approximately $40,000. CGC Financial Services LLC grew its position in Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after buying an additional 81 shares during the last quarter. Finally, PFG Private Wealth Management LLC increased its stake in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $496.57 on Friday. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58. The company has a fifty day moving average of $489.33 and a 200-day moving average of $474.46.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was 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.