Invesco QQQ (NASDAQ:QQQ) is Frank Rimerman Advisors LLC’s 2nd Largest Position

Frank Rimerman Advisors LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,849 shares of the exchange traded fund’s stock after selling 475 shares during the quarter. Invesco QQQ makes up about 5.4% of Frank Rimerman Advisors LLC’s holdings, making the stock its 2nd biggest holding. Frank Rimerman Advisors LLC’s holdings in Invesco QQQ were worth $76,066,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of QQQ. International Assets Investment Management LLC increased its stake in Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares in the last quarter. Steel Grove Capital Advisors LLC grew its holdings in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after buying an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC raised its holdings in Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after acquiring an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Invesco QQQ in the 1st quarter valued at approximately $304,591,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $495.32 on Friday. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The stock has a fifty day simple moving average of $480.51 and a two-hundred day simple moving average of $466.85.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a 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.