Droms Strauss Advisors Inc. MO ADV Decreases Stake in Invesco QQQ (NASDAQ:QQQ)

Droms Strauss Advisors Inc. MO ADV cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 2.6% during the third quarter, Holdings Channel.com reports. The fund owned 35,962 shares of the exchange traded fund’s stock after selling 951 shares during the period. Invesco QQQ accounts for approximately 6.2% of Droms Strauss Advisors Inc. MO ADV’s portfolio, making the stock its 6th largest position. Droms Strauss Advisors Inc. MO ADV’s holdings in Invesco QQQ were worth $17,552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the first quarter worth about $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ during the second quarter worth approximately $30,000. Chelsea Counsel Co. bought a new stake in Invesco QQQ during the first quarter worth approximately $40,000. CGC Financial Services LLC increased its stake in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $508.52 on Thursday. The business’s 50 day moving average is $483.00 and its two-hundred day moving average is $470.34. Invesco QQQ has a 1-year low of $369.57 and a 1-year high of $508.52.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.

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.