Adell Harriman & Carpenter Inc. Has $354,000 Stake in Invesco QQQ (NASDAQ:QQQ)

Adell Harriman & Carpenter Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 20.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 724 shares of the exchange traded fund’s stock after selling 184 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Invesco QQQ were worth $354,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in QQQ. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ during the 1st quarter worth about $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ in the second quarter valued at $30,000. Chelsea Counsel Co. acquired a new position in Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC boosted its stake in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 1.0 %

NASDAQ QQQ opened at $500.16 on Wednesday. Invesco QQQ has a 1-year low of $346.45 and a 1-year high of $503.52. The company has a 50 day moving average of $481.19 and a 200-day moving average of $467.84.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%.

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.