HFG Advisors Inc. Has $10.39 Million Stake in Invesco QQQ (NASDAQ:QQQ)

HFG Advisors Inc. decreased its position in Invesco QQQ (NASDAQ:QQQ) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 21,294 shares of the exchange traded fund’s stock after selling 717 shares during the quarter. Invesco QQQ comprises 9.2% of HFG Advisors Inc.’s investment portfolio, making the stock its largest holding. HFG Advisors Inc.’s holdings in Invesco QQQ were worth $10,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ in the 1st quarter worth $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ in the second quarter valued at $30,000. Chelsea Counsel Co. bought a new position in Invesco QQQ in the first quarter valued at $40,000. CGC Financial Services LLC boosted its stake in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after acquiring an additional 24 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ stock traded up $2.34 during midday trading on Thursday, hitting $493.25. 9,095,466 shares of the company were exchanged, compared to its average volume of 38,991,688. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The firm’s 50 day moving average price is $475.94 and its two-hundred day moving average price is $464.29.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.