SPC Financial Inc. Sells 270 Shares of Invesco QQQ (NASDAQ:QQQ)

SPC Financial Inc. lowered its position in Invesco QQQ (NASDAQ:QQQ) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,862 shares of the exchange traded fund’s stock after selling 270 shares during the quarter. SPC Financial Inc.’s holdings in Invesco QQQ were worth $7,600,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in QQQ. Global Assets Advisory LLC bought a new position in shares of Invesco QQQ during the first quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC raised its position in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC lifted its holdings in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after buying an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at about $304,591,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $488.07 on Tuesday. The business has a 50-day moving average of $468.22 and a 200-day moving average of $460.55. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend 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.