Gilliland Jeter Wealth Management LLC Has $869,000 Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Gilliland Jeter Wealth Management LLC increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 4.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,781 shares of the exchange traded fund’s stock after buying an additional 78 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Invesco QQQ were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of QQQ. Steel Grove Capital Advisors LLC raised its stake in Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after acquiring an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC lifted its holdings in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after purchasing an additional 894,532 shares during the last quarter. Harvard Management Co. Inc. acquired a new position in Invesco QQQ in the first quarter valued at about $304,591,000. Finally, Mirae Asset Securities USA Inc. acquired a new position in Invesco QQQ in the second quarter valued at about $215,600,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.7 %

NASDAQ QQQ opened at $494.47 on Monday. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52. The company has a 50 day moving average of $477.68 and a 200-day moving average of $465.15.

Invesco QQQ Cuts Dividend

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