1,110 Shares in Invesco QQQ (NASDAQ:QQQ) Acquired by American Asset Management Inc.

American Asset Management Inc. acquired a new stake in Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,110 shares of the exchange traded fund’s stock, valued at approximately $542,000. Invesco QQQ comprises about 0.6% of American Asset Management Inc.’s investment portfolio, making the stock its 11th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the second quarter valued at $30,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ during the 1st quarter worth $29,000. Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at about $40,000. Finally, CGC Financial Services LLC boosted its holdings in Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.3 %

Invesco QQQ stock traded down $6.65 during mid-day trading on Tuesday, hitting $490.85. 34,690,269 shares of the stock were exchanged, compared to its average volume of 39,221,578. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The firm’s fifty day simple moving average is $473.79 and its two-hundred day simple moving average is $463.77.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.