Jacobi Capital Management LLC Sells 827 Shares of Invesco QQQ $QQQ

Jacobi Capital Management LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,947 shares of the exchange traded fund’s stock after selling 827 shares during the quarter. Invesco QQQ comprises approximately 3.1% of Jacobi Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Jacobi Capital Management LLC’s holdings in Invesco QQQ were worth $66,540,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of QQQ. Parvin Asset Management LLC acquired a new stake in Invesco QQQ in the 1st quarter worth approximately $28,000. High Point Wealth Management LLC increased its stake in Invesco QQQ by 68.0% during the 2nd quarter. High Point Wealth Management LLC now owns 42 shares of the exchange traded fund’s stock valued at $31,000 after purchasing an additional 17 shares in the last quarter. Financial Management Professionals Inc. increased its stake in Invesco QQQ by 83.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 55 shares of the exchange traded fund’s stock valued at $41,000 after purchasing an additional 25 shares in the last quarter. CrossGen Wealth LLC increased its stake in Invesco QQQ by 44.7% during the 3rd quarter. CrossGen Wealth LLC now owns 55 shares of the exchange traded fund’s stock valued at $41,000 after purchasing an additional 17 shares in the last quarter. Finally, Bullseye Investment Management LLC acquired a new position in Invesco QQQ during the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 2.3%

NASDAQ QQQ opened at $690.38 on Thursday. The company has a fifty day simple moving average of $719.04 and a two-hundred day simple moving average of $681.26. Invesco QQQ has a 12-month low of $555.60 and a 12-month high of $762.86.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Monday, September 21st were issued a dividend of $0.7514 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 0.4%. This is a drop from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date of this dividend was Monday, September 21st.

Invesco QQQ News Summary

Investors following QQQ have been watching these news items:

• Positive Sentiment: Chip stocks helped drive a strong Nasdaq-100 session on Nov. 10, signaling some appetite to buy technology shares despite volatility. Whether that rebound can hold remains uncertain. The Nasdaq-100 Just Had Its Best Day Since March Without Nvidia’s Help
• Neutral Sentiment: QQQ’s reported holdings grew across its portfolio, including an additional $206.7 million in Apple on Nov. 9. This describes fund holdings activity but does not, by itself, establish a change in investor demand for QQQ. Invesco QQQ Trust (QQQ) Buys $206.7 Million More Apple on Nov. 9
• Negative Sentiment: October CPI rose 0.4% month over month, and reports described price pressures as broadening or sticky. That intensified speculation about a December Fed rate hike; higher rates can weigh on growth-stock valuations, a key risk for QQQ. October CPI: Broadening Price Pressures Keep Fed Tightening On Track

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.