China Universal Asset Management Co. Ltd. Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

China Universal Asset Management Co. Ltd. decreased its stake in Invesco QQQ (NASDAQ:QQQ) by 69.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 335 shares of the exchange traded fund’s stock after selling 745 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Invesco QQQ were worth $164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Traynor Capital Management Inc. lifted its stake in shares of Invesco QQQ by 6.1% during the 3rd quarter. Traynor Capital Management Inc. now owns 16,284 shares of the exchange traded fund’s stock worth $7,948,000 after acquiring an additional 939 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in shares of Invesco QQQ by 27.9% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 78,547 shares of the exchange traded fund’s stock worth $38,337,000 after acquiring an additional 17,120 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Invesco QQQ by 4.9% during the 3rd quarter. Pallas Capital Advisors LLC now owns 14,944 shares of the exchange traded fund’s stock worth $7,357,000 after acquiring an additional 698 shares during the last quarter. Orrstown Financial Services Inc. bought a new stake in shares of Invesco QQQ during the 3rd quarter worth approximately $3,016,000. Finally, Morton Brown Family Wealth LLC lifted its stake in shares of Invesco QQQ by 0.7% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 3,219 shares of the exchange traded fund’s stock worth $1,571,000 after acquiring an additional 22 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $496.38 on Thursday. Invesco QQQ has a 52-week low of $346.62 and a 52-week high of $503.52. The stock has a 50 day moving average price of $481.47 and a 200 day moving average price of $468.04.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given 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 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.