Madden Advisory Services Inc. Has $1.21 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Madden Advisory Services Inc. increased its stake in Invesco QQQ (NASDAQ:QQQ) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,487 shares of the exchange traded fund’s stock after buying an additional 21 shares during the quarter. Madden Advisory Services Inc.’s holdings in Invesco QQQ were worth $1,214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ during the 1st quarter worth approximately $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ during the second quarter worth $30,000. Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ in the first quarter valued at $40,000. CGC Financial Services LLC raised its position in shares of Invesco QQQ by 736.4% in the second 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 period. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after buying an additional 24 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Down 0.3 %

Shares of QQQ opened at $486.01 on Tuesday. Invesco QQQ has a 52 week low of $366.91 and a 52 week high of $503.52. The firm’s 50-day simple moving average is $482.01 and its 200 day simple 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 issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Monday, September 23rd.

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.