Oppenheimer & Co. Inc. Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Oppenheimer & Co. Inc. cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.7% in the third quarter, Holdings Channel reports. The fund owned 136,099 shares of the exchange traded fund’s stock after selling 6,778 shares during the quarter. Invesco QQQ accounts for approximately 1.0% of Oppenheimer & Co. Inc.’s portfolio, making the stock its 12th largest position. Oppenheimer & Co. Inc.’s holdings in Invesco QQQ were worth $66,426,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Northeast Investment Management raised its holdings in Invesco QQQ by 0.6% in the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after buying an additional 20 shares during the period. Prospect Financial Services LLC increased its stake in Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the period. Skyline Advisors Inc. increased its stake in Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after purchasing an additional 21 shares during the period. Madden Advisory Services Inc. increased its stake in Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after purchasing an additional 21 shares during the period. Finally, Meridian Management Co. increased its stake in Invesco QQQ by 0.6% during the third quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund’s stock worth $1,640,000 after purchasing an additional 21 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.2 %

NASDAQ:QQQ traded down $1.10 on Wednesday, reaching $511.81. 2,617,507 shares of the company’s stock were exchanged, compared to its average volume of 38,137,129. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58. The business has a fifty day moving average of $486.39 and a 200-day moving average of $473.15.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 0.53%. 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.