Asset Allocation Strategies LLC Sells 9,133 Shares of Invesco QQQ (NASDAQ:QQQ)

Asset Allocation Strategies LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 18.0% in the third quarter, Holdings Channel reports. The institutional investor owned 41,596 shares of the exchange traded fund’s stock after selling 9,133 shares during the quarter. Invesco QQQ accounts for about 5.8% of Asset Allocation Strategies LLC’s portfolio, making the stock its 2nd biggest holding. Asset Allocation Strategies LLC’s holdings in Invesco QQQ were worth $20,302,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of QQQ. Mechanics Financial Corp acquired a new position in Invesco QQQ in the 2nd quarter valued at approximately $30,000. CGC Financial Services LLC increased its position 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 purchasing an additional 81 shares during the period. Legacy Bridge LLC raised its stake in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after purchasing an additional 45 shares in the last quarter. BNP Paribas bought a new position in Invesco QQQ in the third quarter worth $62,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in Invesco QQQ by 27.2% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 131 shares of the exchange traded fund’s stock worth $63,000 after buying an additional 28 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 $520.60 on Wednesday. The firm has a fifty day moving average of $500.28 and a 200-day moving average of $482.21. Invesco QQQ has a 52-week low of $391.53 and a 52-week high of $526.72.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Monday, September 23rd.

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.