Clear Creek Financial Management LLC Reduces Invesco QQQ Stake

Clear Creek Financial Management LLC has lowered its stake in Invesco QQQ (NASDAQ:QQQ) by 27.3% in the third quarter, according to their most recent filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 65,633 shares of this popular exchange-traded fund.

Investments in Invesco QQQ

In contrast, other financial firms have been increasing their investments in Invesco QQQ. For instance, Private Wealth Partners LLC raised its position by 5.7% during the same quarter, acquiring an additional 1,977 shares and owning a total of 36,725 shares at the end of the quarter. The value of Private Wealth Partners LLC's investment in Invesco QQQ reached approximately $17,924,000, making it the 22nd largest holding in their portfolio. Furthermore, several hedge funds and institutional investors also made significant moves.

International Assets Investment Management LLC dramatically increased its holdings in Invesco QQQ by a staggering 46,491.6% in the third quarter, now owning 32,586,150 shares valued at around $15,904,322,000 following their acquisition of 32,516,210 shares. Steel Grove Capital Advisors LLC also boosted its position by 934.0%, owning 3,434,759 shares worth about $1,525,067,000 after purchasing an additional 3,102,568 shares during this period.

Other notable increases include Strategic Financial Concepts LLC's stake by 18,691.3% and Granite Bay Wealth Management LLC's stake rise by 6,215.5%. A new significant investment was made by Harvard Management Co. Inc., which bought shares valued at $304,591,000 during the first quarter. As a whole, hedge funds and institutional investors collectively own about 44.58% of the total shares of Invesco QQQ.

Current Performance

As of the latest trading session, shares of Invesco QQQ opened at $487.43, with a fifty-two week low of $360.30 and a high of $503.52. The stock also displays a fifty-day moving average of $481.80 and a two-hundred day moving average of $468.80.

Dividend Information

Invesco QQQ also recently reported a quarterly dividend, which was distributed on October 31st. Shareholders on record as of September 23rd received a dividend payment of $0.677, translating to an annualized dividend of $2.71 and a yield of 0.56%. The ex-dividend date was set on September 23rd.

Understanding Invesco QQQ

The PowerShares QQQ Trust, Series 1, is a unit investment trust that offers an exchange traded fund designed to track the Nasdaq-100 Index. The investment objective of the Trust is to mirror the price and yield performance of this index, allowing investors to purchase units that represent proportional interests in a portfolio that includes most of the component securities of the Nasdaq-100 Index.

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