Summit Wealth & Retirement Planning Inc. Has $558,000 Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Summit Wealth & Retirement Planning Inc. raised its stake in Invesco QQQ (NASDAQ:QQQ) by 4.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,144 shares of the exchange traded fund’s stock after acquiring an additional 50 shares during the period. Summit Wealth & Retirement Planning Inc.’s holdings in Invesco QQQ were worth $558,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after buying an additional 32,516,210 shares during the period. Steel Grove Capital Advisors LLC increased its position in shares of Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after purchasing an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC raised its position in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after acquiring an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC raised its holdings in shares of Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. bought a new stake in shares of Invesco QQQ in the first quarter valued at $304,591,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.1 %

Shares of NASDAQ:QQQ opened at $514.14 on Friday. The company has a 50-day moving average price of $484.62 and a two-hundred day moving average price of $471.30. Invesco QQQ has a twelve month low of $369.57 and a twelve month high of $514.92.

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 issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

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.