McAdam LLC Has $2.33 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

McAdam LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,770 shares of the exchange traded fund’s stock after buying an additional 52 shares during the quarter. McAdam LLC’s holdings in Invesco QQQ were worth $2,328,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ in the 1st quarter valued at $28,000. Mechanics Financial Corp acquired a new position in Invesco QQQ in the second quarter valued at about $30,000. Chelsea Counsel Co. bought a new stake in Invesco QQQ during the first quarter worth about $40,000. CGC Financial Services LLC grew its stake in Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Invesco QQQ by 30.4% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after buying an additional 24 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $488.36 on Thursday. The firm has a 50 day moving average of $479.75 and a 200-day moving average of $466.12. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.55%.

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.