Invesco QQQ $QQQ Shares Sold by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management cut its Invesco QQQ position by 88.5% in the third quarter, selling 299,632 shares. It retained 39,076 shares valued at about $28.9 million.
• Several other investors increased their QQQ holdings during the quarter; institutional investors collectively owned 44.58% of the fund.
• Invesco QQQ’s quarterly dividend fell to $0.7514 per share from $0.8135, equivalent to an annualized dividend of $3.01 and a 0.4% yield.

Ritholtz Wealth Management trimmed its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 88.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,076 shares of the exchange traded fund's stock after selling 299,632 shares during the period. Ritholtz Wealth Management's holdings in Invesco QQQ were worth $28,907,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. NBH Bank grew its stake in shares of Invesco QQQ by 14.0% in the third quarter. NBH Bank now owns 1,165 shares of the exchange traded fund's stock worth $862,000 after acquiring an additional 143 shares during the last quarter. Granville Capital Inc. increased its position in Invesco QQQ by 5.7% during the third quarter. Granville Capital Inc. now owns 40,499 shares of the exchange traded fund's stock worth $29,960,000 after acquiring an additional 2,185 shares during the period. Joel Isaacson & Co. LLC increased its position in Invesco QQQ by 0.9% during the third quarter. Joel Isaacson & Co. LLC now owns 38,052 shares of the exchange traded fund's stock worth $28,150,000 after acquiring an additional 353 shares during the period. International Private Wealth Advisors LLC raised its stake in Invesco QQQ by 22.1% during the 3rd quarter. International Private Wealth Advisors LLC now owns 4,408 shares of the exchange traded fund's stock valued at $3,261,000 after purchasing an additional 798 shares during the last quarter. Finally, Silver Grove Financial Group Inc. raised its stake in Invesco QQQ by 14.5% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 6,707 shares of the exchange traded fund's stock valued at $4,961,000 after purchasing an additional 850 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $690.38 on Thursday. Invesco QQQ has a fifty-two week low of $555.60 and a fifty-two week high of $762.86. The firm has a fifty day moving average price of $719.04 and a two-hundred day moving average price of $681.26.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Monday, September 21st were given a dividend of $0.7514 per share. This is a decrease from Invesco QQQ's previous quarterly dividend of $0.8135. This represents a $3.01 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, September 21st.

Key Invesco QQQ News

Investors following QQQ have been watching these news items:

• Positive Sentiment: U.S. equities advanced after midday on Nov. 11, offering a supportive backdrop for QQQ following the prior session’s weakness. Exchange-Traded Funds Higher as US Equities Advance After Midday
• Neutral Sentiment: QQQ’s reported holdings grew across its portfolio, including an additional $206.7 million in Apple on Nov. 9. This describes fund holdings activity but does not, by itself, establish a change in investor demand for QQQ. Invesco QQQ Trust (QQQ) Buys $206.7 Million More Apple on Nov. 9
• Negative Sentiment: Some commentary warned that elevated technology valuations leave QQQ vulnerable to a sharp pullback. These are bearish scenarios rather than evidence of an imminent decline, but they add to concerns around volatile tech and chip shares. How the QQQ Could Drop More Than 40% From Here, Even If It Hits a New All-Time High First

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.