Invesco QQQ (NASDAQ:QQQ) Holdings Reduced by Merkkuri Wealth Advisors LLC

Merkkuri Wealth Advisors LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,903 shares of the exchange traded fund’s stock after selling 122 shares during the period. Invesco QQQ makes up about 4.7% of Merkkuri Wealth Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Merkkuri Wealth Advisors LLC’s holdings in Invesco QQQ were worth $5,810,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Prospect Financial Services LLC lifted its stake in shares of Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after acquiring an additional 21 shares during the period. Skyline Advisors Inc. lifted its stake in Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after buying an additional 21 shares during the period. Sweeney & Michel LLC lifted its stake in Invesco QQQ by 4.0% in the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after buying an additional 22 shares during the period. Family Firm Inc. lifted its stake in Invesco QQQ by 3.1% in the second quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after buying an additional 22 shares during the period. Finally, MPS Loria Financial Planners LLC lifted its stake in Invesco QQQ by 0.8% in the third quarter. MPS Loria Financial Planners LLC now owns 2,656 shares of the exchange traded fund’s stock valued at $1,297,000 after buying an additional 22 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $492.32 on Friday. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The business has a 50 day moving average price of $479.75 and a 200-day moving average price of $466.12.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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%.

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.