Transcendent Capital Group LLC Sells 3,026 Shares of Invesco QQQ (NASDAQ:QQQ)

Transcendent Capital Group LLC has decreased its investment in Invesco QQQ (NASDAQ:QQQ - Free Report) by 32.7% during the third quarter, as indicated in its latest Form 13F filing with the Securities and Exchange Commission. After selling 3,026 shares during this quarter, the fund now holds a total of 6,226 shares in this exchange-traded fund. Invesco QQQ represents about 1.6% of Transcendent Capital Group's overall portfolio, ranking it as the 19th largest holding. According to their latest SEC filing, these holdings in Invesco QQQ are valued at approximately $3,039,000.

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Several other hedge funds and institutional investors have also made changes to their positions in Invesco QQQ recently. For instance, Summit Wealth & Retirement Planning Inc. increased its stake by 4.6% in the third quarter, bringing their total to 1,144 shares valued at $558,000 after an additional 50 shares were acquired. 17 Capital Partners LLC saw a larger jump, boosting its stake by 25.0%, which now amounts to 2,532 shares worth $1,236,000 after purchasing 506 more shares in the previous quarter. Mesirow Financial Investment Management Inc. also raised its holdings by 9.4%, ending up with 27,020 shares valued at $13,188,000 after buying 2,315 shares during that period. XML Financial LLC increased its position by 4.0%, holding 8,184 shares valued at $3,995,000 following the acquisition of 314 additional shares. Proficio Capital Partners LLC significantly boosted its holdings by 20.5%, now owning 22,378 shares valued at $10,922,000 after adding 3,803 shares. Collectively, institutional investors own about 44.58% of the shares in this company.

Invesco QQQ Stock Performance

As of Friday, shares of NASDAQ QQQ opened at $514.14. The stock has a fifty-day simple moving average of $484.62 and a two-hundred-day simple moving average of $471.30. Over the last 12 months, Invesco QQQ reached a low of $369.57 and a high of $514.92.

Invesco QQQ Cuts Dividend

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Recently, the company announced a quarterly dividend, which was paid out on Thursday, October 31st. Investors who were on record by Monday, September 23rd, received a dividend of $0.677. This dividend translates to an annualized payout of $2.71, indicating a yield of 0.53%. The ex-dividend date was also on September 23rd.

Invesco QQQ Profile

The PowerShares QQQ Trust, Series 1 is a unit investment trust that issues Nasdaq-100 Index Tracking Stock. The primary goal of the Trust is to achieve investment results that closely reflect the price and yield performance of the Nasdaq-100 Index. Investors have the opportunity to obtain units representing undivided interests in a portfolio of securities held by the Trust, which includes most of the securities that comprise the Nasdaq-100 Index in similar proportions.

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Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to view the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This news was generated using automated technology and financial data to provide timely and precise reporting. The story was reviewed by editorial staff for accuracy before publication. For questions or comments, please reach out via email.

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