Avidian Wealth Enterprises LLC Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Avidian Wealth Enterprises LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,154 shares of the exchange traded fund’s stock after selling 494 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Invesco QQQ were worth $2,516,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after buying an additional 32,516,210 shares during the period. Ameriprise Financial Inc. grew its position in Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after acquiring an additional 338,494 shares in the last quarter. Steel Grove Capital Advisors LLC increased its stake in Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after purchasing an additional 33,790 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its stake in shares of Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $492.21 on Wednesday. Invesco QQQ has a fifty-two week low of $366.91 and a fifty-two week high of $503.52. The company has a 50 day moving average price of $482.32 and a 200 day moving average price of $470.09.

Invesco QQQ Cuts Dividend

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

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.