GHP Investment Advisors Inc. Trims Stake in Invesco QQQ (NASDAQ:QQQ)

GHP Investment Advisors Inc. lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,176 shares of the exchange traded fund’s stock after selling 56 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Invesco QQQ were worth $1,550,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC grew its position in Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after acquiring an additional 32,516,210 shares during the last quarter. Steel Grove Capital Advisors LLC grew its holdings in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC lifted its holdings in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after buying an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Invesco QQQ in the 1st quarter valued at about $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.6 %

Shares of NASDAQ:QQQ opened at $495.32 on Monday. The firm’s 50 day simple moving average is $480.51 and its 200-day simple moving average is $467.05. Invesco QQQ has a one year low of $342.35 and a one year 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 issued a dividend of $0.677 per share. The ex-dividend date 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.