Edgestream Partners L.P. Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Edgestream Partners L.P. trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,047 shares of the exchange traded fund’s stock after selling 1,308 shares during the period. Invesco QQQ accounts for 1.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 2nd biggest position. Edgestream Partners L.P.’s holdings in Invesco QQQ were worth $31,747,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. 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 worth $1,697,000 after purchasing an additional 20 shares during the period. Planning Capital Management Corp increased its position in Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after buying an additional 20 shares in the last quarter. Prospect Financial Services LLC raised its stake in shares of Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after buying an additional 21 shares during the period. Skyline Advisors Inc. lifted its position in shares of Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after buying an additional 21 shares in the last quarter. Finally, Madden Advisory Services Inc. grew its stake in shares of Invesco QQQ by 0.9% during the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after acquiring an additional 21 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $509.74 on Friday. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58. The firm has a 50 day moving average of $496.13 and a 200 day moving average of $478.96.

Invesco QQQ Cuts Dividend

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

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.