United Capital Management of KS Inc. Sells 282 Shares of Invesco QQQ (NASDAQ:QQQ)
by Teresa Graham · The Cerbat GemUnited Capital Management of KS Inc. decreased its holdings in Invesco QQQ (NASDAQ:QQQ – Free Report) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,075 shares of the exchange traded fund’s stock after selling 282 shares during the period. United Capital Management of KS Inc.’s holdings in Invesco QQQ were worth $3,941,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the first quarter worth about $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the 2nd quarter worth approximately $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ during the 1st quarter valued at approximately $40,000. CGC Financial Services LLC grew its holdings in shares of Invesco QQQ by 736.4% in 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 in the last quarter. Finally, PFG Private Wealth Management LLC increased its position in Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.
Invesco QQQ Trading Up 0.1 %
QQQ stock opened at $514.14 on Monday. Invesco QQQ has a 52 week low of $369.57 and a 52 week high of $514.92. The company has a fifty day simple moving average of $484.62 and a two-hundred day simple moving average of $471.94.
Invesco QQQ Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.
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.
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