Droms Strauss Advisors Inc. MO ADV Has $17.55 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Droms Strauss Advisors Inc. MO ADV lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,962 shares of the exchange traded fund’s stock after selling 951 shares during the period. Invesco QQQ makes up about 6.2% of Droms Strauss Advisors Inc. MO ADV’s investment portfolio, making the stock its 6th largest holding. Droms Strauss Advisors Inc. MO ADV’s holdings in Invesco QQQ were worth $17,552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QQQ. WFA Asset Management Corp increased its holdings in shares of Invesco QQQ by 70.6% in the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after purchasing an additional 1,894 shares in the last quarter. PBCay One RSC Ltd increased its holdings in shares of Invesco QQQ by 6.2% in the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock worth $166,504,000 after purchasing an additional 22,000 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in shares of Invesco QQQ by 10.5% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 5,483 shares of the exchange traded fund’s stock worth $2,435,000 after purchasing an additional 519 shares in the last quarter. Gallacher Capital Management LLC bought a new stake in shares of Invesco QQQ in the 1st quarter worth $218,000. Finally, MGB Wealth Management LLC increased its holdings in shares of Invesco QQQ by 0.8% in the 1st quarter. MGB Wealth Management LLC now owns 26,829 shares of the exchange traded fund’s stock worth $11,914,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock opened at $508.52 on Thursday. Invesco QQQ has a 1 year low of $369.57 and a 1 year high of $508.52. The stock’s fifty day moving average price is $483.00 and its 200-day moving average price is $470.34.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 yield of 0.53%.

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.