Invesco QQQ (NASDAQ:QQQ) Position Trimmed by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,363 shares of the exchange traded fund's stock after selling 5,397 shares during the period. Invesco QQQ makes up about 3.1% of SRS Capital Advisors Inc.'s investment portfolio, making the stock its 5th largest position. SRS Capital Advisors Inc.'s holdings in Invesco QQQ were worth $34,830,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. LJI Wealth Management LLC grew its holdings in Invesco QQQ by 4.8% during the third quarter. LJI Wealth Management LLC now owns 29,420 shares of the exchange traded fund's stock worth $14,359,000 after acquiring an additional 1,355 shares during the period. Heritage Investment Group Inc. increased its stake in Invesco QQQ by 16.7% in the 3rd quarter. Heritage Investment Group Inc. now owns 997 shares of the exchange traded fund's stock worth $487,000 after purchasing an additional 143 shares in the last quarter. RIA Advisory Group LLC purchased a new position in Invesco QQQ in the 3rd quarter worth about $5,980,000. Destiny Capital Corp CO increased its stake in Invesco QQQ by 13.0% in the 3rd quarter. Destiny Capital Corp CO now owns 16,108 shares of the exchange traded fund's stock worth $7,829,000 after purchasing an additional 1,854 shares in the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in Invesco QQQ in the 3rd quarter worth about $3,131,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 2.4 %

QQQ traded down $12.12 during trading on Friday, reaching $496.57. The company had a trading volume of 51,461,054 shares, compared to its average volume of 38,252,949. The firm's 50-day simple moving average is $489.33 and its 200 day simple moving average is $474.11. 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. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.55%.

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.