Beaton Management Co. Inc. Has $3.38 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Beaton Management Co. Inc. lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,932 shares of the exchange traded fund’s stock after purchasing an additional 70 shares during the quarter. Invesco QQQ accounts for about 1.7% of Beaton Management Co. Inc.’s portfolio, making the stock its 18th biggest position. Beaton Management Co. Inc.’s holdings in Invesco QQQ were worth $3,383,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Westwood Holdings Group Inc. raised its holdings in Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after buying an additional 1,993 shares during the period. Socha Financial Group LLC raised its holdings in shares of Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares during the period. Archer Investment Corp lifted its position in Invesco QQQ by 10.2% in the 3rd quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock valued at $21,281,000 after acquiring an additional 4,025 shares in the last quarter. Bank Hapoalim BM lifted its position in Invesco QQQ by 5.5% in the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after acquiring an additional 6,347 shares in the last quarter. Finally, Arrow Financial Corp boosted its stake in Invesco QQQ by 7.2% in the 3rd quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock worth $68,997,000 after purchasing an additional 9,516 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $496.57 on Friday. The business’s 50-day moving average price is $489.33 and its two-hundred day moving average price is $474.46. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. 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.