Invesco QQQ (NASDAQ:QQQ) is Alliance Wealth Advisors LLC’s 3rd Largest Position

Alliance Wealth Advisors LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,626 shares of the exchange traded fund’s stock after purchasing an additional 2,073 shares during the period. Invesco QQQ comprises approximately 5.5% of Alliance Wealth Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. Alliance Wealth Advisors LLC’s holdings in Invesco QQQ were worth $9,579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the first quarter valued at $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ in the 2nd quarter valued at about $30,000. Chelsea Counsel Co. purchased a new stake in Invesco QQQ during the first quarter valued at about $40,000. CGC Financial Services LLC boosted its position 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 purchasing an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $490.91 on Thursday. The firm’s 50 day moving average is $475.94 and its 200 day moving average is $464.29. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.