Garner Asset Management Corp Has $11.54 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Garner Asset Management Corp increased its position in Invesco QQQ (NASDAQ:QQQ) by 18.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,645 shares of the exchange traded fund’s stock after acquiring an additional 3,656 shares during the quarter. Invesco QQQ comprises about 5.2% of Garner Asset Management Corp’s holdings, making the stock its 2nd biggest holding. Garner Asset Management Corp’s holdings in Invesco QQQ were worth $11,541,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Westwood Holdings Group Inc. lifted its position in Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after purchasing an additional 1,993 shares during the last quarter. Socha Financial Group LLC lifted its position in Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the last quarter. Archer Investment Corp raised its stake in shares of Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after acquiring an additional 4,025 shares in the last quarter. Bank Hapoalim BM lifted its holdings in shares of Invesco QQQ by 5.5% in the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after acquiring an additional 6,347 shares during the last quarter. Finally, Arrow Financial Corp lifted its holdings in shares of Invesco QQQ by 7.2% in the 3rd quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock worth $68,997,000 after acquiring an additional 9,516 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $505.79 on Friday. The firm has a fifty day simple moving average of $493.08 and a two-hundred day simple moving average of $476.93. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58.

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 given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was 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.