TRUE Private Wealth Advisors Sells 460 Shares of Invesco QQQ (NASDAQ:QQQ)

TRUE Private Wealth Advisors lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,800 shares of the exchange traded fund’s stock after selling 460 shares during the quarter. Invesco QQQ comprises 0.9% of TRUE Private Wealth Advisors’ holdings, making the stock its 20th largest holding. TRUE Private Wealth Advisors’ holdings in Invesco QQQ were worth $7,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the 2nd quarter valued at $30,000. CGC Financial Services LLC grew its stake in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the last quarter. Legacy Bridge LLC increased its position in Invesco QQQ by 60.0% during the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares in the last quarter. PFG Private Wealth Management LLC raised its stake in Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares during the last quarter. Finally, BNP Paribas acquired a new stake in Invesco QQQ in the third quarter worth about $62,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $509.74 on Friday. The firm’s 50-day moving average price is $496.13 and its 200-day moving average price is $478.96. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58.

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 issued 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.

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.