Ameritas Advisory Services LLC Cuts Holdings in Invesco QQQ (NASDAQ:QQQ)

Ameritas Advisory Services LLC lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 31.6% in the third quarter, Holdings Channel reports. The firm owned 119,724 shares of the exchange traded fund’s stock after selling 55,364 shares during the period. Invesco QQQ comprises about 2.5% of Ameritas Advisory Services LLC’s holdings, making the stock its 2nd biggest position. Ameritas Advisory Services LLC’s holdings in Invesco QQQ were worth $58,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Northeast Investment Management increased its holdings in shares of Invesco QQQ by 0.6% during the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after purchasing an additional 20 shares during the period. Prospect Financial Services LLC grew its position in Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after buying an additional 21 shares in the last quarter. Skyline Advisors Inc. increased its stake in Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after acquiring an additional 21 shares during the period. Madden Advisory Services Inc. raised its holdings in Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after acquiring an additional 21 shares in the last quarter. Finally, Sweeney & Michel LLC lifted its position in shares of Invesco QQQ by 4.0% during the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $488.91 on Tuesday. Invesco QQQ has a 52-week low of $366.91 and a 52-week high of $503.52. The business’s fifty day moving average is $482.01 and its 200-day moving average is $469.55.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%.

About Invesco QQQ

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.