Invesco QQQ (NASDAQ:QQQ) Shares Sold by Cambridge Advisors Inc.

Cambridge Advisors Inc. lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.9% in the third quarter, Holdings Channel.com reports. The fund owned 2,490 shares of the exchange traded fund’s stock after selling 100 shares during the quarter. Cambridge Advisors Inc.’s holdings in Invesco QQQ were worth $1,215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new stake in shares of Invesco QQQ in the first quarter valued at $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ in the second quarter valued at $30,000. Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ in the first quarter valued at $40,000. CGC Financial Services LLC lifted its holdings in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $492.32 on Friday. The stock has a fifty day moving average of $479.75 and a 200-day moving average of $466.12. 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 issued a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.