Revolve Wealth Partners LLC Has $2.48 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Revolve Wealth Partners LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 8.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,081 shares of the exchange traded fund’s stock after selling 499 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Invesco QQQ were worth $2,480,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Veracity Capital LLC grew its holdings in shares of Invesco QQQ by 3.5% during the third quarter. Veracity Capital LLC now owns 1,343 shares of the exchange traded fund’s stock worth $655,000 after purchasing an additional 46 shares during the last quarter. Spectrum Financial Alliance Ltd LLC raised its holdings in Invesco QQQ by 26.8% in the 3rd quarter. Spectrum Financial Alliance Ltd LLC now owns 568 shares of the exchange traded fund’s stock valued at $277,000 after buying an additional 120 shares during the last quarter. Cadent Capital Advisors LLC bought a new position in Invesco QQQ in the 3rd quarter valued at approximately $1,288,000. E&G Advisors LP boosted its position in Invesco QQQ by 4.3% during the 3rd quarter. E&G Advisors LP now owns 27,863 shares of the exchange traded fund’s stock worth $13,599,000 after buying an additional 1,149 shares during the period. Finally, AA Financial Advisors LLC grew its holdings in Invesco QQQ by 27.8% during the 3rd quarter. AA Financial Advisors LLC now owns 3,342 shares of the exchange traded fund’s stock worth $1,631,000 after acquiring an additional 727 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $494.47 on Friday. The firm has a 50 day moving average price of $477.68 and a two-hundred day moving average price of $464.99. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 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.