Garden State Investment Advisory Services LLC Buys 5,673 Shares of Invesco QQQ (NASDAQ:QQQ)

Garden State Investment Advisory Services LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ) by 20.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,082 shares of the exchange traded fund’s stock after acquiring an additional 5,673 shares during the period. Invesco QQQ accounts for about 4.5% of Garden State Investment Advisory Services LLC’s investment portfolio, making the stock its 2nd largest position. Garden State Investment Advisory Services LLC’s holdings in Invesco QQQ were worth $16,191,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Clear Street Derivatives LLC bought a new position in shares of Invesco QQQ in the third quarter worth about $17,942,000. Coastwise Capital Group LLC grew its holdings in Invesco QQQ by 25.8% in the 3rd quarter. Coastwise Capital Group LLC now owns 3,058 shares of the exchange traded fund’s stock valued at $1,492,000 after buying an additional 627 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in Invesco QQQ by 1.1% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 2,095 shares of the exchange traded fund’s stock worth $1,023,000 after buying an additional 22 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Invesco QQQ by 6,291.4% during the third quarter. Benjamin Edwards Inc. now owns 47,296 shares of the exchange traded fund’s stock worth $23,091,000 after buying an additional 46,556 shares during the last quarter. Finally, Atom Investors LP boosted its position in shares of Invesco QQQ by 3.2% in the third quarter. Atom Investors LP now owns 7,717 shares of the exchange traded fund’s stock valued at $3,766,000 after acquiring an additional 237 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.2 %

Shares of QQQ stock opened at $510.55 on Monday. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The firm’s fifty day simple moving average is $496.13 and its 200 day simple moving average is $479.38.

Invesco QQQ Cuts Dividend

The business also recently disclosed 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. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend 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.