Peterson Wealth Management Sells 8,764 Shares of Invesco QQQ $QQQ

Key Points

• Peterson Wealth Management cut its stake in Invesco QQQ by 24.7% in Q3, selling 8,764 shares and retaining 26,689 shares worth $16,023,000; QQQ represents about 11.1% of Peterson's portfolio and is its largest holding.
• Invesco QQQ increased its quarterly dividend to $0.7941 (annualized $3.18) for a yield of 0.5%—up from $0.69—with shareholders of record on Dec. 22 and the payment made on Dec. 31.

Peterson Wealth Management lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 24.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 26,689 shares of the exchange traded fund's stock after selling 8,764 shares during the quarter. Invesco QQQ comprises about 11.1% of Peterson Wealth Management's portfolio, making the stock its largest holding. Peterson Wealth Management's holdings in Invesco QQQ were worth $16,023,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of QQQ. Alternative Investment Advisors LLC. grew its stake in Invesco QQQ by 7.1% in the 3rd quarter. Alternative Investment Advisors LLC. now owns 725 shares of the exchange traded fund's stock valued at $435,000 after buying an additional 48 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in shares of Invesco QQQ by 11.0% during the third quarter. Strategic Investment Advisors MI now owns 1,039 shares of the exchange traded fund's stock worth $624,000 after acquiring an additional 103 shares during the period. Keel Point LLC boosted its holdings in shares of Invesco QQQ by 42.7% during the third quarter. Keel Point LLC now owns 15,554 shares of the exchange traded fund's stock worth $9,338,000 after acquiring an additional 4,657 shares during the period. Harbour Investment Management LLC acquired a new position in shares of Invesco QQQ in the third quarter valued at approximately $207,000. Finally, Painted Porch Advisors LLC increased its stake in shares of Invesco QQQ by 837.2% during the third quarter. Painted Porch Advisors LLC now owns 403 shares of the exchange traded fund's stock worth $242,000 after purchasing an additional 360 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 1.3%

Shares of NASDAQ QQQ opened at $607.76 on Tuesday. The business's 50 day moving average is $614.35 and its 200-day moving average is $608.10. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $637.01.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were given a dividend of $0.7941 per share. This represents a $3.18 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, December 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.69.

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

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.