Mascoma Wealth Management LLC Has $2.02 Million Position in Invesco QQQ (NASDAQ:QQQ)

Mascoma Wealth Management LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 4.8% during the third quarter, HoldingsChannel reports. The firm owned 4,141 shares of the exchange traded fund’s stock after selling 207 shares during the quarter. Invesco QQQ accounts for about 0.5% of Mascoma Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding. Mascoma Wealth Management LLC’s holdings in Invesco QQQ were worth $2,021,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. WFA Asset Management Corp increased its holdings in Invesco QQQ by 70.6% in the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after purchasing an additional 1,894 shares in the last quarter. PBCay One RSC Ltd increased its stake in shares of Invesco QQQ by 6.2% in the first quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock valued at $166,504,000 after buying an additional 22,000 shares during the period. Russell Investments Group Ltd. raised its holdings in Invesco QQQ by 140.6% in the 1st quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock valued at $108,000 after buying an additional 142 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $844,000. Finally, Koshinski Asset Management Inc. bought a new stake in Invesco QQQ during the 1st quarter worth approximately $11,491,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.1 %

QQQ stock opened at $513.84 on Tuesday. The company has a fifty day moving average price of $485.37 and a 200-day moving average price of $472.57. Invesco QQQ has a 52-week low of $375.24 and a 52-week high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a 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.