Investors Asset Management of Georgia Inc. GA ADV Trims Stake in Invesco QQQ (NASDAQ:QQQ)

Investors Asset Management of Georgia Inc. GA ADV cut its position in shares of Invesco QQQ (NASDAQ:QQQ) by 15.2% in the fourth quarter, HoldingsChannel reports. The firm owned 5,659 shares of the exchange traded fund’s stock after selling 1,017 shares during the period. Invesco QQQ comprises about 1.2% of Investors Asset Management of Georgia Inc. GA ADV’s investment portfolio, making the stock its 18th largest holding. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Invesco QQQ were worth $2,318,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Red Tortoise LLC lifted its stake in Invesco QQQ by 370.0% in the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 74 shares during the period. Friedenthal Financial bought a new stake in shares of Invesco QQQ in the 4th quarter valued at about $41,000. Bear Mountain Capital Inc. purchased a new stake in shares of Invesco QQQ in the 4th quarter worth approximately $42,000. Core Wealth Advisors Inc. lifted its position in shares of Invesco QQQ by 33.3% in the 3rd quarter. Core Wealth Advisors Inc. now owns 120 shares of the exchange traded fund’s stock worth $43,000 after purchasing an additional 30 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Invesco QQQ during the second quarter valued at approximately $44,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock traded down $1.79 during trading on Thursday, hitting $424.05. 28,526,436 shares of the company’s stock traded hands, compared to its average volume of 45,371,113. Invesco QQQ has a 1 year low of $309.89 and a 1 year high of $449.34. The business has a fifty day simple moving average of $438.24 and a two-hundred day simple moving average of $407.40.

Invesco QQQ Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, March 19th will be issued a $0.5735 dividend. The ex-dividend date is Monday, March 18th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 0.54%.

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.