Invesco QQQ (NASDAQ:QQQ) is Garner Asset Management Corp's 2nd Largest Position

Garner Asset Management Corp lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,785 shares of the exchange traded fund's stock after acquiring an additional 846 shares during the quarter. Invesco QQQ accounts for 5.3% of Garner Asset Management Corp's investment portfolio, making the stock its 2nd largest position. Garner Asset Management Corp's holdings in Invesco QQQ were worth $12,091,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Eagle Capital Management LLC boosted its holdings in shares of Invesco QQQ by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 60,686 shares of the exchange traded fund's stock valued at $31,025,000 after acquiring an additional 185 shares in the last quarter. Brighton Jones LLC raised its position in Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after acquiring an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the last quarter. Guardian Partners Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $361,000. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of Invesco QQQ during the fourth quarter worth about $102,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ traded down $4.33 during trading on Tuesday, hitting $559.84. 12,717,456 shares of the company's stock were exchanged, compared to its average volume of 39,398,343. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $566.06. The stock has a 50 day moving average price of $534.38 and a 200 day moving average price of $507.13.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.42%.

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.

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