Accurate Wealth Management LLC Reduces Stake in Invesco QQQ

Accurate Wealth Management LLC has reported a significant reduction in its investment in Invesco QQQ (NASDAQ:QQQ). In its latest Form 13F filing with the Securities and Exchange Commission, the company revealed that it cut its holdings by 87.4% during the fourth quarter. Following this adjustment, Accurate Wealth Management LLC now possesses 4,289 shares of the exchange-traded fund (ETF), which were valued at approximately $2,175,000 at the conclusion of the most recent reporting period.

Other Institutional Investors

In addition to Accurate Wealth Management LLC, several other hedge funds have also adjusted their positions in Invesco QQQ. For instance, Northeast Investment Management increased its stake by 0.6% in the third quarter, now owning 3,476 shares valued at $1,697,000 after acquiring an additional 20 shares. Similarly, Planning Capital Management Corp raised its investment by 7.1%, holding 300 shares worth $146,000 following a purchase of 20 additional shares.

Cardinal Point Capital Management ULC also increased its position in the ETF by 0.5%, now owning 3,902 shares with a value of $1,995,000 after acquiring another 20 shares. Meanwhile, Skyline Advisors Inc. reported a 5.0% increase, owning 441 shares valued at $215,000 after securing an additional 21 shares.

Another firm, Madden Advisory Services Inc., boosted its holdings by 0.9%, bringing its total to 2,487 shares worth $1,214,000 after purchasing 21 additional shares during the last quarter. Overall, institutional investors now hold approximately 44.58% of the company’s stock.

Invesco QQQ Market Performance

The shares of Invesco QQQ opened at $505.08 recently. The ETF has experienced a 12-month low of $402.92 and a high of $539.15. Additionally, its 50-day moving average sits at $515.57, while the 200-day moving average stands at $491.47.

Recent Dividend Announcements

Invesco QQQ recently declared a dividend, which was distributed to shareholders on December 31st. The dividend amounted to $0.8347 and was paid to shareholders recorded on December 23rd, with the ex-dividend date falling on the same day.

About Invesco QQQ

The PowerShares QQQ Trust, Series 1 is a unit investment trust that manages funds intended to track the Nasdaq-100 Index. The main goal of the Trust is to produce investment results that generally align with the price and yield performance of the Nasdaq-100 Index. By investing, individuals can purchase units representing a proportionate undivided interest in a portfolio composed of the securities that make up the Nasdaq-100 Index.

Wealth, Investment, ETFs