KPP Advisory Services LLC Has $19.90 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

KPP Advisory Services LLC reduced its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,767 shares of the exchange traded fund's stock after selling 3,732 shares during the quarter. Invesco QQQ accounts for 4.8% of KPP Advisory Services LLC's holdings, making the stock its biggest position. KPP Advisory Services LLC's holdings in Invesco QQQ were worth $19,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in QQQ. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the first quarter valued at approximately $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ during the second quarter valued at approximately $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ during the first quarter valued at approximately $40,000. CGC Financial Services LLC raised its holdings in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund's stock valued at $44,000 after acquiring an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC raised its holdings in shares of Invesco QQQ by 572.2% during the second 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 during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 2.4 %

Shares of QQQ stock traded down $12.12 during trading hours on Friday, reaching $496.57. 51,461,054 shares of the stock traded hands, compared to its average volume of 38,252,949. Invesco QQQ has a 1-year low of $382.66 and a 1-year high of $515.58. The business has a fifty day moving average price of $489.33 and a 200 day moving average price of $474.11.

Invesco QQQ Cuts Dividend

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