Washburn Capital Management Inc. Sells 1,228 Shares of Invesco QQQ $QQQ

Washburn Capital Management Inc. trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQFree Report) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,131 shares of the exchange traded fund’s stock after selling 1,228 shares during the period. Invesco QQQ comprises about 13.5% of Washburn Capital Management Inc.’s holdings, making the stock its 3rd biggest position. Washburn Capital Management Inc.’s holdings in Invesco QQQ were worth $24,093,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC acquired a new position in shares of Invesco QQQ during the 2nd quarter worth $30,000. Navigoe LLC grew its position in shares of Invesco QQQ by 300.0% in the third quarter. Navigoe LLC now owns 60 shares of the exchange traded fund’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Invesco QQQ during the 2nd quarter worth approximately $41,000. PayPay Securities Corp raised its position in shares of Invesco QQQ by 78.9% during the 3rd quarter. PayPay Securities Corp now owns 68 shares of the exchange traded fund’s stock worth $41,000 after purchasing an additional 30 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Invesco QQQ in the 3rd quarter valued at approximately $42,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

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Invesco QQQ Stock Down 0.1%

QQQ opened at $621.26 on Friday. The business’s fifty day simple moving average is $616.40 and its 200 day simple moving average is $595.42. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $637.01.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a dividend of $0.7941 per share. This represents a $3.18 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, December 22nd.

About Invesco QQQ

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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