Global Trust Asset Management LLC Has $17.17 Million Position in Invesco QQQ (NASDAQ:QQQ)

Global Trust Asset Management LLC cut its stake in Invesco QQQ (NASDAQ:QQQ) by 6.1% in the third quarter, HoldingsChannel reports. The fund owned 35,180 shares of the exchange traded fund’s stock after selling 2,297 shares during the period. Invesco QQQ accounts for 6.4% of Global Trust Asset Management LLC’s holdings, making the stock its 2nd largest position. Global Trust Asset Management LLC’s holdings in Invesco QQQ were worth $17,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of QQQ. Bogart Wealth LLC raised its stake in shares of Invesco QQQ by 3.5% during the third quarter. Bogart Wealth LLC now owns 22,452 shares of the exchange traded fund’s stock worth $10,958,000 after buying an additional 759 shares during the last quarter. Jackson Wealth Management LLC raised its stake in shares of Invesco QQQ by 67.5% during the third quarter. Jackson Wealth Management LLC now owns 15,997 shares of the exchange traded fund’s stock worth $7,808,000 after buying an additional 6,445 shares during the last quarter. Index Fund Advisors Inc. raised its stake in shares of Invesco QQQ by 12.5% during the third quarter. Index Fund Advisors Inc. now owns 1,393 shares of the exchange traded fund’s stock worth $680,000 after buying an additional 155 shares during the last quarter. Impact Partnership Wealth LLC raised its stake in shares of Invesco QQQ by 12.8% during the third quarter. Impact Partnership Wealth LLC now owns 48,711 shares of the exchange traded fund’s stock worth $23,774,000 after buying an additional 5,518 shares during the last quarter. Finally, Grimes & Company Inc. raised its stake in shares of Invesco QQQ by 2.2% during the third quarter. Grimes & Company Inc. now owns 6,340 shares of the exchange traded fund’s stock worth $3,094,000 after buying an additional 139 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ opened at $492.32 on Friday. The firm has a 50 day simple moving average of $479.75 and a 200 day simple moving average of $466.12. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.