GM Advisory Group LLC Acquires 53 Shares of Invesco QQQ (NASDAQ:QQQ)

GM Advisory Group LLC raised its holdings in Invesco QQQ (NASDAQ:QQQ) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,981 shares of the exchange traded fund’s stock after buying an additional 53 shares during the quarter. GM Advisory Group LLC’s holdings in Invesco QQQ were worth $967,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ during the first quarter worth about $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ during the 2nd quarter worth approximately $30,000. Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $40,000. CGC Financial Services LLC raised its stake in shares of Invesco QQQ by 736.4% in the second 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, Legacy Bridge LLC raised its stake in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.4 %

QQQ opened at $505.17 on Friday. Invesco QQQ has a fifty-two week low of $382.66 and a fifty-two week high of $515.58. The firm’s fifty day moving average price is $492.47 and its two-hundred day moving average price is $476.22.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend 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.