Marks Group Wealth Management Inc Lowers Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Marks Group Wealth Management Inc lessened its position in Invesco QQQ (NASDAQ:QQQ) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,341 shares of the exchange traded fund’s stock after selling 128 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Invesco QQQ were worth $655,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of QQQ. WFA Asset Management Corp grew its holdings in shares of Invesco QQQ by 70.6% in the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after purchasing an additional 1,894 shares in the last quarter. PBCay One RSC Ltd raised 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 acquiring an additional 22,000 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its holdings in Invesco QQQ by 10.5% in the first quarter. Chevy Chase Trust Holdings LLC now owns 5,483 shares of the exchange traded fund’s stock valued at $2,435,000 after purchasing an additional 519 shares during the period. Gallacher Capital Management LLC acquired a new position in Invesco QQQ during the 1st quarter worth $218,000. Finally, MGB Wealth Management LLC increased its holdings in Invesco QQQ by 0.8% during the 1st quarter. MGB Wealth Management LLC now owns 26,829 shares of the exchange traded fund’s stock worth $11,914,000 after purchasing an additional 211 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 2.7 %

QQQ stock opened at $505.58 on Thursday. The business’s 50-day moving average is $483.00 and its two-hundred day moving average is $470.34. Invesco QQQ has a 1 year low of $369.05 and a 1 year high of $506.41.

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 $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.54%.

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.