Valence8 US LP Purchases 11,438 Shares of Invesco QQQ (NASDAQ:QQQ)

Valence8 US LP boosted its position in Invesco QQQ (NASDAQ:QQQ) by 14.9% during the third quarter, Holdings Channel.com reports. The fund owned 88,149 shares of the exchange traded fund’s stock after purchasing an additional 11,438 shares during the quarter. Invesco QQQ accounts for 17.8% of Valence8 US LP’s holdings, making the stock its 2nd largest holding. Valence8 US LP’s holdings in Invesco QQQ were worth $43,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its stake in shares of Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares in the last quarter. Socha Financial Group LLC lifted its stake 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 purchasing an additional 2,171 shares in the last quarter. Archer Investment Corp lifted its stake in shares of Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after purchasing an additional 4,025 shares in the last quarter. Bank Hapoalim BM lifted its stake in shares of Invesco QQQ by 5.5% during the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Finally, Arrow Financial Corp lifted its stake in shares of Invesco QQQ by 7.2% during the third 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 in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.4 %

Shares of NASDAQ QQQ opened at $505.17 on Friday. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The stock’s 50-day simple moving average is $492.47 and its 200-day simple moving average is $476.22.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date 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.