Invesco QQQ (NASDAQ:QQQ) Stake Trimmed by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC lessened its holdings in Invesco QQQ (NASDAQ:QQQ) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 167,838 shares of the exchange traded fund’s stock after selling 5,664 shares during the period. Invesco QQQ makes up approximately 2.4% of Dynamic Advisor Solutions LLC’s portfolio, making the stock its 2nd largest position. Dynamic Advisor Solutions LLC’s holdings in Invesco QQQ were worth $81,917,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Ameriprise Financial Inc. increased its stake in shares of Invesco QQQ by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after buying an additional 338,494 shares during the period. Global Assets Advisory LLC acquired a new position in Invesco QQQ during the 1st quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC increased its position in shares of Invesco QQQ by 934.0% in the 1st 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 purchasing an additional 3,102,568 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Invesco QQQ by 1.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after purchasing an additional 33,790 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.1 %

Shares of QQQ stock opened at $482.10 on Tuesday. The firm has a fifty day moving average price of $469.56 and a 200 day moving average price of $461.81. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Monday, September 23rd.

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.