Allen Mooney & Barnes Investment Advisors LLC Has $1.91 Million Stock Position in Invesco QQQ $QQQ

Allen Mooney & Barnes Investment Advisors LLC reduced its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,458 shares of the exchange traded fund’s stock after selling 40 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Invesco QQQ were worth $1,908,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Goldman Sachs Group Inc. raised its stake in shares of Invesco QQQ by 959.6% in 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 purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ in the first quarter worth approximately $2,775,904,000. GAMMA Investing LLC grew its holdings in shares of Invesco QQQ by 55,795.2% in the first quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock valued at $8,777,850,000 after acquiring an additional 1,868,580 shares in the last quarter. Spear Holdings RSC Ltd bought a new position in shares of Invesco QQQ in the first quarter valued at approximately $474,600,000. Finally, Altimeter Capital Management LP bought a new position in shares of Invesco QQQ in the first quarter valued at approximately $463,293,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.4%

QQQ stock opened at $586.66 on Monday. The business has a 50 day moving average of $568.24 and a 200-day moving average of $520.68. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $587.86.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.4%.

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.