BLB&B Advisors LLC Reduces Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

BLB&B Advisors LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,917 shares of the exchange traded fund’s stock after selling 1,560 shares during the period. BLB&B Advisors LLC’s holdings in Invesco QQQ were worth $6,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steel Grove Capital Advisors LLC increased its holdings in 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 worth $1,525,067,000 after buying an additional 3,102,568 shares during the period. Strategic Financial Concepts LLC lifted its position in 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 purchasing an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC boosted its holdings in Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after purchasing an additional 894,532 shares during the last quarter. Harvard Management Co. Inc. acquired a new stake in Invesco QQQ during the 1st quarter worth about $304,591,000. Finally, Mirae Asset Securities USA Inc. purchased a new position in shares of Invesco QQQ during the 2nd quarter valued at about $215,600,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $495.96 on Wednesday. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The business has a 50 day moving average of $479.23 and a two-hundred day moving average of $465.96.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 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.