Invesco QQQ (NASDAQ:QQQ) Stake Cut by Parker Investment Management LLC

Parker Investment Management LLC trimmed its position in Invesco QQQ (NASDAQ:QQQ) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,323 shares of the exchange traded fund’s stock after selling 5,331 shares during the quarter. Invesco QQQ makes up approximately 15.4% of Parker Investment Management LLC’s portfolio, making the stock its biggest holding. Parker Investment Management LLC’s holdings in Invesco QQQ were worth $97,284,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of QQQ. Socha Financial Group LLC lifted its holdings in shares of Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares during the last quarter. Archer Investment Corp raised its stake in shares of Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after acquiring an additional 4,025 shares in the last quarter. Bank Hapoalim BM boosted its stake in shares of Invesco QQQ by 5.5% in the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Marco Investment Management LLC grew its holdings in shares of Invesco QQQ by 48.1% during the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock valued at $4,696,000 after purchasing an additional 3,123 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC lifted its stake in Invesco QQQ by 20.7% in the third quarter. Garden State Investment Advisory Services LLC now owns 33,082 shares of the exchange traded fund’s stock worth $16,191,000 after purchasing an additional 5,673 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $516.87 on Wednesday. The firm has a fifty day simple moving average of $497.40 and a two-hundred day simple moving average of $480.28. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $517.15.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, September 23rd.

Invesco QQQ Company 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.