Invesco QQQ (NASDAQ:QQQ) is Concorde Asset Management LLC’s 4th Largest Position

Concorde Asset Management LLC cut its holdings in Invesco QQQ (NASDAQ:QQQ) by 8.7% in the third quarter, Holdings Channel reports. The institutional investor owned 18,840 shares of the exchange traded fund’s stock after selling 1,799 shares during the quarter. Invesco QQQ accounts for 5.2% of Concorde Asset Management LLC’s holdings, making the stock its 4th largest holding. Concorde Asset Management LLC’s holdings in Invesco QQQ were worth $9,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Westwood Holdings Group Inc. increased its position in shares of Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after buying an additional 1,993 shares in the last quarter. Socha Financial Group LLC increased its position in shares of Invesco QQQ by 2.4% during the third 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 in the last quarter. Archer Investment Corp increased its position in shares of Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after purchasing an additional 4,025 shares in the last quarter. Bank Hapoalim BM increased its position in shares of Invesco QQQ by 5.5% during the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Finally, Arrow Financial Corp increased its position in shares of Invesco QQQ by 7.2% during the third quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock worth $68,997,000 after purchasing an additional 9,516 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.4 %

Shares of QQQ opened at $505.17 on Friday. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58. The stock has a 50 day moving average price of $492.47 and a 200 day moving average price of $476.22.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, September 23rd.

Invesco QQQ Company 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.