Advisor Resource Council Has $3 Million Position in Invesco QQQ (NASDAQ:QQQ)

Advisor Resource Council reduced its stake in Invesco QQQ (NASDAQ:QQQ) by 27.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,152 shares of the exchange traded fund’s stock after selling 2,284 shares during the period. Invesco QQQ accounts for 1.4% of Advisor Resource Council’s holdings, making the stock its 13th biggest holding. Advisor Resource Council’s holdings in Invesco QQQ were worth $3,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. International Assets Investment Management LLC increased its position in shares of Invesco QQQ by 46,491.6% during the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after acquiring an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. grew its position in Invesco QQQ by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after buying an additional 338,494 shares during the period. Steel Grove Capital Advisors LLC increased its holdings in Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Invesco QQQ by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after acquiring an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC boosted its stake in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $505.58 on Thursday. The firm has a 50 day moving average price of $483.00 and a 200-day moving average price of $470.34. Invesco QQQ has a twelve month low of $369.05 and a twelve month high of $506.41.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.54%. 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.