Advance Capital Management Inc. Decreases Holdings in Invesco QQQ $QQQ

Advance Capital Management Inc. lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 13.6% in the second quarter, Holdings Channel.com reports. The fund owned 7,259 shares of the exchange traded fund’s stock after selling 1,139 shares during the quarter. Advance Capital Management Inc.’s holdings in Invesco QQQ were worth $4,004,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new position in Invesco QQQ during the first quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its stake in Invesco QQQ by 1.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock valued at $1,501,063,000 after acquiring an additional 52,234 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Invesco QQQ by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock valued at $1,163,036,000 after acquiring an additional 54,944 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Invesco QQQ by 55,795.2% in the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $586.66 on Monday. The stock’s fifty day moving average is $568.24 and its two-hundred day moving average is $520.68. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $587.86.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were given a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

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.