Moulton Wealth Management Inc. Buys New Shares in Invesco QQQ (NASDAQ:QQQ)

Moulton Wealth Management Inc. purchased a new position in Invesco QQQ (NASDAQ:QQQ) during the third quarter, HoldingsChannel reports. The institutional investor purchased 731 shares of the exchange traded fund’s stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Prospect Financial Services LLC boosted its position in shares of Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after acquiring an additional 21 shares during the last quarter. Skyline Advisors Inc. boosted its holdings 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 valued at $215,000 after purchasing an additional 21 shares during the last quarter. Sweeney & Michel LLC grew its stake in shares of Invesco QQQ by 4.0% during the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after buying an additional 22 shares during the period. Family Firm Inc. increased its holdings in shares of Invesco QQQ by 3.1% during the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock worth $354,000 after buying an additional 22 shares during the last quarter. Finally, Merriman Wealth Management LLC increased its holdings in shares of Invesco QQQ by 0.5% during the 2nd quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock worth $2,420,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.7 %

Shares of Invesco QQQ stock opened at $494.47 on Friday. The business’s fifty day moving average price is $477.68 and its 200 day moving average price is $464.82. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.