Investors Asset Management of Georgia Inc. GA ADV Trims Position in Invesco QQQ (NASDAQ:QQQ)

Investors Asset Management of Georgia Inc. GA ADV reduced its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,400 shares of the exchange traded fund’s stock after selling 206 shares during the period. Invesco QQQ comprises 1.0% of Investors Asset Management of Georgia Inc. GA ADV’s holdings, making the stock its 22nd biggest position. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Invesco QQQ were worth $2,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the 2nd quarter worth about $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at about $40,000. CGC Financial Services LLC increased its stake in shares of Invesco QQQ by 736.4% in the 2nd 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, CarsonAllaria Wealth Management Ltd. raised its holdings in Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock traded up $3.58 during mid-day trading on Friday, reaching $487.43. 33,655,757 shares of the company’s stock were exchanged, compared to its average volume of 28,420,908. Invesco QQQ has a 12-month low of $360.30 and a 12-month high of $503.52. The stock’s 50 day moving average is $481.80 and its 200 day moving average is $468.54.

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 of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%.

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.