Allen Capital Group LLC Has $338,000 Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Allen Capital Group LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 51.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 693 shares of the exchange traded fund’s stock after selling 739 shares during the period. Allen Capital Group LLC’s holdings in Invesco QQQ were worth $338,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Northeast Investment Management boosted its position in Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after buying an additional 20 shares during the period. Planning Capital Management Corp boosted its position in Invesco QQQ by 7.1% during the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after buying an additional 20 shares during the period. Prospect Financial Services LLC lifted its position in shares of Invesco QQQ by 0.3% in the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the period. Skyline Advisors Inc. lifted its position in shares of Invesco QQQ by 5.0% in the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after purchasing an additional 21 shares during the period. Finally, Madden Advisory Services Inc. lifted its position in shares of Invesco QQQ by 0.9% in the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after purchasing an additional 21 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $505.79 on Friday. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58. The company’s 50 day moving average price is $493.08 and its 200-day moving average price is $476.67.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 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.