Glass Jacobson Investment Advisors llc Lowers Stock Position in Invesco QQQ (NASDAQ:QQQ)

Glass Jacobson Investment Advisors llc reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 11.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 836 shares of the exchange traded fund’s stock after selling 104 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Invesco QQQ were worth $408,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ during the 2nd quarter valued at about $30,000. CGC Financial Services LLC lifted its holdings in Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares in the last quarter. Legacy Bridge LLC lifted its holdings in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares in the last quarter. BNP Paribas purchased a new position in Invesco QQQ in the 3rd quarter worth approximately $62,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Invesco QQQ by 27.2% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 131 shares of the exchange traded fund’s stock worth $63,000 after purchasing an additional 28 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $522.38 on Tuesday. The stock’s 50 day moving average is $500.28 and its 200 day moving average is $482.21. Invesco QQQ has a 12 month low of $391.53 and a 12 month high of $526.72.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.52%.

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.