PFG Advisors Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

PFG Advisors increased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 83,721 shares of the exchange traded fund’s stock after acquiring an additional 2,879 shares during the quarter. Invesco QQQ accounts for 2.6% of PFG Advisors’ portfolio, making the stock its 2nd biggest position. PFG Advisors’ holdings in Invesco QQQ were worth $40,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of QQQ. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the 1st quarter worth approximately $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ in the second quarter worth $30,000. Chelsea Counsel Co. bought a new position in Invesco QQQ in the 1st quarter valued at $40,000. CGC Financial Services LLC increased its position in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in shares of Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $490.85 on Wednesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The company’s 50-day moving average is $474.82 and its 200 day moving average is $464.10.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend 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.