Pacific Financial Group Inc. Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Pacific Financial Group Inc. cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 8.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 31,230 shares of the exchange traded fund’s stock after selling 2,912 shares during the period. Invesco QQQ comprises 11.2% of Pacific Financial Group Inc.’s investment portfolio, making the stock its 2nd largest position. Pacific Financial Group Inc.’s holdings in Invesco QQQ were worth $15,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in shares of Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Invesco QQQ by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after acquiring an additional 338,494 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Invesco QQQ by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after acquiring an additional 33,790 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of 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 valued at $13,307,000 after acquiring an additional 2,762,571 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in shares of Invesco QQQ by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock valued at $1,219,115,000 after acquiring an additional 64,401 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.2 %

Invesco QQQ stock opened at $505.79 on Monday. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58. The firm’s fifty day moving average is $493.08 and its 200 day moving average is $477.19.

Invesco QQQ Cuts Dividend

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

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.