Invesco QQQ (NASDAQ:QQQ) Shares Sold by Asset Allocation & Management Company LLC

Asset Allocation & Management Company LLC trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 13.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,484 shares of the exchange traded fund’s stock after selling 564 shares during the quarter. Invesco QQQ comprises 1.1% of Asset Allocation & Management Company LLC’s portfolio, making the stock its 19th largest position. Asset Allocation & Management Company LLC’s holdings in Invesco QQQ were worth $1,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in QQQ. Steel Grove Capital Advisors LLC increased its position in Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC increased its position in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the period. 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. Harvard Management Co. Inc. acquired a new stake in Invesco QQQ in the 1st quarter valued at approximately $304,591,000. Finally, Mirae Asset Securities USA Inc. acquired a new stake in Invesco QQQ in the 2nd quarter valued at approximately $215,600,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.5 %

Shares of NASDAQ QQQ opened at $488.36 on Thursday. The stock has a fifty day moving average price of $479.75 and a two-hundred day moving average price of $466.12. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.