Koshinski Asset Management Inc. Increases Stake in Invesco QQQ (NASDAQ:QQQ)

Koshinski Asset Management Inc. boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 30,149 shares of the exchange traded fund’s stock after purchasing an additional 52 shares during the quarter. Invesco QQQ comprises about 1.3% of Koshinski Asset Management Inc.’s holdings, making the stock its 12th biggest holding. Koshinski Asset Management Inc.’s holdings in Invesco QQQ were worth $14,715,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in Invesco QQQ during the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ during the 1st quarter valued at about $29,000. Mechanics Financial Corp bought a new position in Invesco QQQ during the 2nd quarter valued at about $30,000. Voisard Asset Management Group Inc. bought a new position in Invesco QQQ during the 4th quarter valued at about $35,000. Finally, Chelsea Counsel Co. bought a new position in Invesco QQQ during the 1st quarter valued at about $40,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ traded up $0.77 during midday trading on Friday, hitting $493.36. 20,644,497 shares of the company traded hands, compared to its average volume of 39,311,230. The company’s 50-day moving average is $472.55 and its 200 day moving average is $463.27. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

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