Asset Allocation Strategies LLC Has $20.30 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Asset Allocation Strategies LLC cut its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 18.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,596 shares of the exchange traded fund’s stock after selling 9,133 shares during the period. Invesco QQQ makes up about 5.8% of Asset Allocation Strategies LLC’s holdings, making the stock its 2nd biggest position. Asset Allocation Strategies LLC’s holdings in Invesco QQQ were worth $20,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Socha Financial Group LLC boosted its holdings in shares of 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 worth $44,732,000 after purchasing an additional 2,171 shares during the period. Archer Investment Corp increased its stake in shares of Invesco QQQ by 10.2% during the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after purchasing an additional 4,025 shares during the last quarter. Bank Hapoalim BM raised its holdings in shares of Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Garden State Investment Advisory Services LLC raised its holdings in shares of 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. Finally, Marco Investment Management LLC lifted its stake in shares of Invesco QQQ by 48.1% in the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock valued at $4,696,000 after purchasing an additional 3,123 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $520.60 on Wednesday. Invesco QQQ has a one year low of $391.53 and a one year high of $526.72. The company’s fifty day moving average price is $500.28 and its two-hundred day moving average price is $482.21.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued 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 0.52%.

Invesco QQQ Company 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.