Prism Advisors Inc. Cuts Position in Invesco QQQ (NASDAQ:QQQ)

Prism Advisors Inc. lessened its position in shares of Invesco QQQ (NASDAQ:QQQ) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,216 shares of the exchange traded fund’s stock after selling 2,100 shares during the quarter. Invesco QQQ comprises 2.4% of Prism Advisors Inc.’s portfolio, making the stock its 18th biggest holding. Prism Advisors Inc.’s holdings in Invesco QQQ were worth $8,403,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the 1st quarter worth approximately $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ in the 2nd quarter worth approximately $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ in the 1st quarter worth approximately $40,000. CGC Financial Services LLC boosted its holdings in shares of 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 during the period. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.3 %

Shares of Invesco QQQ stock opened at $490.85 on Wednesday. The stock has a 50 day moving average price of $474.82 and a 200-day moving average price of $464.10. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is 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.