SRS Capital Advisors Inc. Sells 5,397 Shares of Invesco QQQ (NASDAQ:QQQ)

SRS Capital Advisors Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,363 shares of the exchange traded fund’s stock after selling 5,397 shares during the quarter. Invesco QQQ comprises approximately 3.1% of SRS Capital Advisors Inc.’s holdings, making the stock its 5th largest holding. SRS Capital Advisors Inc.’s holdings in Invesco QQQ were worth $34,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QQQ. New Covenant Trust Company N.A. acquired a new stake in Invesco QQQ during the first quarter valued at approximately $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ during the 2nd quarter worth $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ during the 1st quarter valued at about $40,000. CGC Financial Services LLC lifted its stake in 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 buying an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC lifted its position in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 2.4 %

Shares of QQQ stock traded down $12.12 on Friday, hitting $496.57. 51,461,054 shares of the stock were exchanged, compared to its average volume of 38,252,949. Invesco QQQ has a fifty-two week low of $382.66 and a fifty-two week high of $515.58. The business has a 50-day moving average of $489.33 and a 200 day moving average of $474.11.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, September 23rd.

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.