Marmo Financial Group LLC Lowers Position in Invesco QQQ (NASDAQ:QQQ)

Marmo Financial Group LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,725 shares of the exchange traded fund’s stock after selling 664 shares during the quarter. Invesco QQQ makes up 1.5% of Marmo Financial Group LLC’s investment portfolio, making the stock its 15th largest holding. Marmo Financial Group LLC’s holdings in Invesco QQQ were worth $2,794,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ during the first quarter valued at $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ during the 2nd quarter worth $30,000. Chelsea Counsel Co. purchased a new position in Invesco QQQ during the 1st quarter worth $40,000. CGC Financial Services LLC grew its stake in Invesco QQQ by 736.4% during 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 during 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 own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.6 %

NASDAQ:QQQ opened at $495.32 on Monday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The stock has a 50 day moving average price of $480.51 and a 200 day moving average price of $467.05.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is 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.