PSI Advisors LLC Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

PSI Advisors LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,015 shares of the exchange traded fund’s stock after selling 497 shares during the period. Invesco QQQ comprises approximately 8.9% of PSI Advisors LLC’s portfolio, making the stock its 2nd biggest holding. PSI Advisors LLC’s holdings in Invesco QQQ were worth $30,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Prospect Financial Services LLC increased its position in shares of Invesco QQQ by 0.3% during the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after purchasing an additional 21 shares during the last quarter. Skyline Advisors Inc. increased its holdings in Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after buying an additional 21 shares during the last quarter. Sweeney & Michel LLC raised its position in Invesco QQQ by 4.0% in the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after acquiring an additional 22 shares during the period. Family Firm Inc. boosted its stake in Invesco QQQ by 3.1% in the second quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after acquiring an additional 22 shares during the last quarter. Finally, MPS Loria Financial Planners LLC grew its position in shares of Invesco QQQ by 0.8% during the 3rd quarter. MPS Loria Financial Planners LLC now owns 2,656 shares of the exchange traded fund’s stock valued at $1,297,000 after acquiring an additional 22 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.8 %

NASDAQ:QQQ opened at $492.32 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The firm’s 50 day moving average is $479.75 and its 200 day moving average is $466.12.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.