KPP Advisory Services LLC Trims Holdings in Invesco QQQ (NASDAQ:QQQ)

KPP Advisory Services LLC lessened its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 8.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,767 shares of the exchange traded fund’s stock after selling 3,732 shares during the period. Invesco QQQ makes up approximately 4.8% of KPP Advisory Services LLC’s holdings, making the stock its largest holding. KPP Advisory Services LLC’s holdings in Invesco QQQ were worth $19,897,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. PBCay One RSC Ltd boosted its holdings in Invesco QQQ by 6.2% during the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock valued at $166,504,000 after acquiring an additional 22,000 shares during the period. Russell Investments Group Ltd. increased its position in shares of Invesco QQQ by 140.6% during the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock worth $108,000 after acquiring an additional 142 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Invesco QQQ during the 1st quarter worth $844,000. Tocqueville Asset Management L.P. grew its holdings in Invesco QQQ by 3.7% during the 1st quarter. Tocqueville Asset Management L.P. now owns 3,968 shares of the exchange traded fund’s stock worth $1,762,000 after acquiring an additional 143 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in Invesco QQQ during the 1st quarter valued at about $496,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of QQQ traded down $12.12 during mid-day trading on Friday, hitting $496.57. The company’s stock had a trading volume of 51,461,054 shares, compared to its average volume of 38,252,949. The company’s 50-day moving average is $489.33 and its 200-day moving average is $474.11. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was 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.