Garden State Investment Advisory Services LLC Has $15.17 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Garden State Investment Advisory Services LLC boosted its position in Invesco QQQ (NASDAQ:QQQ) by 13.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,990 shares of the exchange traded fund’s stock after purchasing an additional 3,581 shares during the quarter. Invesco QQQ makes up approximately 4.5% of Garden State Investment Advisory Services LLC’s investment portfolio, making the stock its largest holding. Garden State Investment Advisory Services LLC’s holdings in Invesco QQQ were worth $15,169,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Socha Financial Group LLC grew its position in Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after purchasing an additional 2,171 shares during the last quarter. Archer Investment Corp increased its position in shares of Invesco QQQ by 10.2% in the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock valued at $21,281,000 after acquiring an additional 4,025 shares during the period. Bank Hapoalim BM lifted its position in Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after acquiring an additional 6,347 shares during the period. Marco Investment Management LLC increased its holdings in shares of Invesco QQQ by 48.1% in the third quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock valued at $4,696,000 after purchasing an additional 3,123 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of Invesco QQQ by 20.2% in the third quarter. Quantinno Capital Management LP now owns 44,268 shares of the exchange traded fund’s stock worth $21,606,000 after purchasing an additional 7,435 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 1.1 %

Shares of Invesco QQQ stock traded up $5.56 during trading on Friday, hitting $532.06. 6,844,311 shares of the company’s stock were exchanged, compared to its average volume of 37,107,680. Invesco QQQ has a 52-week low of $395.34 and a 52-week high of $533.17. The business has a 50-day simple moving average of $502.92 and a 200-day simple moving average of $483.29.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.51%.

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.