Advisors Management Group Inc. ADV Boosts Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Advisors Management Group Inc. ADV grew its position in Invesco QQQ (NASDAQ:QQQ) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,815 shares of the exchange traded fund’s stock after acquiring an additional 169 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Invesco QQQ were worth $2,838,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ in the 1st quarter worth approximately $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ during the second quarter worth approximately $30,000. Chelsea Counsel Co. acquired a new position in Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC increased 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 worth $44,000 after acquiring an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $505.58 on Thursday. Invesco QQQ has a twelve month low of $369.05 and a twelve month high of $506.41. The company’s 50-day moving average price is $483.00 and its 200-day moving average price is $470.34.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.54%.

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.