AMI Investment Management Inc. Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

AMI Investment Management Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,847 shares of the exchange traded fund’s stock after selling 55 shares during the quarter. AMI Investment Management Inc.’s holdings in Invesco QQQ were worth $902,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Global Assets Advisory LLC acquired a new stake in Invesco QQQ during the 1st quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC boosted its stake in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC grew its holdings in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC increased its position in Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after acquiring an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. acquired a new position in Invesco QQQ in the 1st quarter valued at about $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 1.2 %

Shares of NASDAQ:QQQ traded up $5.73 during trading on Friday, reaching $487.32. The company had a trading volume of 30,686,999 shares, compared to its average volume of 39,685,844. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The stock’s fifty day moving average price is $469.07 and its 200 day moving average price is $461.18.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.56%.

Invesco QQQ Profile

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.