FSC Wealth Advisors LLC Sells 20,150 Shares of Invesco QQQ (NASDAQ:QQQ)

FSC Wealth Advisors LLC reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 99.2% during the third quarter, Holdings Channel reports. The firm owned 161 shares of the exchange traded fund’s stock after selling 20,150 shares during the quarter. FSC Wealth Advisors LLC’s holdings in Invesco QQQ were worth $78,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in Invesco QQQ by 7.3% during 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 purchasing an additional 338,494 shares during the period. Steel Grove Capital Advisors LLC increased its position in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Invesco QQQ by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after purchasing an additional 33,790 shares during the period. Strategic Financial Concepts LLC increased its position in Invesco QQQ by 18,691.3% during the 2nd 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. Finally, Commonwealth Equity Services LLC increased its position in Invesco QQQ by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock valued at $1,219,115,000 after purchasing an additional 64,401 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $495.96 on Wednesday. The company’s fifty day simple moving average is $479.23 and its two-hundred day simple moving average is $465.96. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.