Summit Asset Management LLC Sells 29 Shares of Invesco QQQ (NASDAQ:QQQ)

Summit Asset Management LLC lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,760 shares of the exchange traded fund’s stock after selling 29 shares during the period. Summit Asset Management LLC’s holdings in Invesco QQQ were worth $1,835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in QQQ. International Assets Investment Management LLC increased 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 acquiring an additional 32,516,210 shares during the period. Ameriprise Financial Inc. boosted its position in Invesco QQQ by 7.3% during the second 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 in the last quarter. Steel Grove Capital Advisors LLC grew its stake in Invesco QQQ by 934.0% in the first 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 last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Invesco QQQ by 1.1% in 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 lifted its position in shares of Invesco QQQ by 18,691.3% during 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 buying an additional 2,762,571 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.1 %

NASDAQ QQQ opened at $512.25 on Thursday. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58. The firm’s fifty day simple moving average is $486.39 and its two-hundred day simple moving average is $473.15.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%.

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.