Janney Montgomery Scott LLC Trims Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Janney Montgomery Scott LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 805,554 shares of the exchange traded fund’s stock after selling 13,180 shares during the period. Invesco QQQ accounts for approximately 1.1% of Janney Montgomery Scott LLC’s investment portfolio, making the stock its 9th biggest holding. Janney Montgomery Scott LLC owned approximately 0.13% of Invesco QQQ worth $393,167,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of Invesco QQQ by 46,491.6% during the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after acquiring an additional 32,516,210 shares in the last quarter. Steel Grove Capital Advisors LLC grew its holdings in Invesco QQQ by 934.0% during 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 buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC raised its position 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 valued at $13,307,000 after buying an additional 2,762,571 shares during the last quarter. Granite Bay Wealth Management LLC lifted its stake 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 acquiring an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new stake in shares of Invesco QQQ in the 1st quarter worth $304,591,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $487.43 on Friday. The stock’s 50 day moving average price is $481.80 and its 200-day moving average price is $468.80. Invesco QQQ has a twelve month low of $360.30 and a twelve month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.56%.

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.