BLB&B Advisors LLC Trims Stock Position in Invesco QQQ (NASDAQ:QQQ)

BLB&B Advisors LLC reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 10.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,917 shares of the exchange traded fund’s stock after selling 1,560 shares during the period. BLB&B Advisors LLC’s holdings in Invesco QQQ were worth $6,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of QQQ. Atwater Malick LLC acquired a new stake in Invesco QQQ in the first quarter valued at about $293,000. Westwood Holdings Group Inc. raised its stake in shares of Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after buying an additional 1,993 shares in the last quarter. Socha Financial Group LLC lifted its holdings in shares of Invesco QQQ by 1.3% in the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after buying an additional 1,153 shares during the period. SVB Wealth LLC boosted its stake in shares of Invesco QQQ by 15.2% in the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after buying an additional 2,453 shares in the last quarter. Finally, WFA Asset Management Corp grew its holdings in Invesco QQQ by 70.6% during the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after acquiring an additional 1,894 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $495.96 on Wednesday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The business has a fifty day moving average of $479.23 and a two-hundred day moving average of $465.96.

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 paid a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

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.