Castle Wealth Management LLC Has $4.03 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Castle Wealth Management LLC lowered its position in Invesco QQQ (NASDAQ:QQQ) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,248 shares of the exchange traded fund’s stock after selling 79 shares during the period. Invesco QQQ accounts for 1.6% of Castle Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. Castle Wealth Management LLC’s holdings in Invesco QQQ were worth $4,031,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ during the 1st quarter worth about $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ during the second quarter worth approximately $30,000. Chelsea Counsel Co. acquired a new position in Invesco QQQ during the first quarter valued at approximately $40,000. CGC Financial Services LLC grew its holdings in Invesco QQQ by 736.4% during 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 during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its position 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 during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $508.52 on Thursday. The firm has a fifty day simple moving average of $483.00 and a 200-day simple moving average of $470.34. Invesco QQQ has a 1-year low of $369.57 and a 1-year high of $508.52.

Invesco QQQ Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

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.