Janney Montgomery Scott LLC Trims Position in Invesco QQQ (NASDAQ:QQQ)

Janney Montgomery Scott LLC trimmed its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.3% during the fourth quarter, HoldingsChannel reports. The fund owned 795,210 shares of the exchange traded fund’s stock after selling 10,344 shares during the quarter. Invesco QQQ comprises 1.1% of Janney Montgomery Scott LLC’s holdings, making the stock its 10th largest position. Janney Montgomery Scott LLC’s holdings in Invesco QQQ were worth $406,536,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in QQQ. Northeast Investment Management boosted its holdings in Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after acquiring an additional 20 shares in the last quarter. Planning Capital Management Corp boosted its holdings in shares of Invesco QQQ by 7.1% during the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after buying an additional 20 shares in the last quarter. Cardinal Point Capital Management ULC boosted its holdings in shares of Invesco QQQ by 0.5% during the 4th quarter. Cardinal Point Capital Management ULC now owns 3,902 shares of the exchange traded fund’s stock valued at $1,995,000 after buying an additional 20 shares in the last quarter. Hoese & Co LLP boosted its holdings in shares of Invesco QQQ by 32.3% during the 4th quarter. Hoese & Co LLP now owns 82 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 20 shares in the last quarter. Finally, Skyline Advisors Inc. boosted its holdings in shares of Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after buying an additional 21 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $531.51 on Thursday. Invesco QQQ has a 12 month low of $413.07 and a 12 month high of $539.15. The company’s fifty day moving average price is $516.33 and its 200-day moving average price is $492.54.

Invesco QQQ Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.8347 per share. The ex-dividend date of this dividend was Monday, December 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.