Empower Advisory Group LLC Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Empower Advisory Group LLC reduced its holdings in Invesco QQQ (NASDAQ:QQQ) by 9.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,534 shares of the exchange traded fund’s stock after selling 1,812 shares during the period. Empower Advisory Group LLC’s holdings in Invesco QQQ were worth $8,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in QQQ. Northeast Investment Management grew its position in shares of Invesco QQQ by 0.6% during the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after acquiring an additional 20 shares during the last quarter. Prospect Financial Services LLC grew its position in shares of Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after acquiring an additional 21 shares during the last quarter. Skyline Advisors Inc. grew its position in shares of Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after acquiring an additional 21 shares during the last quarter. Madden Advisory Services Inc. grew its position in shares of Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after acquiring an additional 21 shares during the last quarter. Finally, Meridian Management Co. grew its position in shares of Invesco QQQ by 0.6% during the third quarter. Meridian Management Co. now owns 3,361 shares of the exchange traded fund’s stock worth $1,640,000 after acquiring an additional 21 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ opened at $512.25 on Thursday. The company’s 50 day simple moving average is $486.39 and its 200-day simple moving average is $473.15. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%.

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.