Investmark Advisory Group LLC Cuts Position in Invesco QQQ (NASDAQ:QQQ)

Investmark Advisory Group LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 1.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,965 shares of the exchange traded fund’s stock after selling 118 shares during the quarter. Invesco QQQ comprises 1.4% of Investmark Advisory Group LLC’s portfolio, making the stock its 23rd largest position. Investmark Advisory Group LLC’s holdings in Invesco QQQ were worth $2,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of QQQ. Garden State Investment Advisory Services LLC increased its stake in Invesco QQQ by 20.7% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 33,082 shares of the exchange traded fund’s stock valued at $16,191,000 after purchasing an additional 5,673 shares in the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of Invesco QQQ during the third quarter valued at approximately $17,942,000. Coastwise Capital Group LLC increased its position in shares of Invesco QQQ by 25.8% during the third quarter. Coastwise Capital Group LLC now owns 3,058 shares of the exchange traded fund’s stock valued at $1,492,000 after acquiring an additional 627 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in Invesco QQQ by 1.1% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 2,095 shares of the exchange traded fund’s stock worth $1,023,000 after acquiring an additional 22 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Invesco QQQ by 6,291.4% during the third quarter. Benjamin Edwards Inc. now owns 47,296 shares of the exchange traded fund’s stock valued at $23,091,000 after purchasing an additional 46,556 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $514.91 on Tuesday. The company’s 50-day simple moving average is $496.13 and its two-hundred day simple moving average is $479.38. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $516.26.

Invesco QQQ Cuts Dividend

The business also recently announced 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. This represents a $2.71 annualized dividend and a yield of 0.53%. 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.