Crescent Grove Advisors LLC Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

Crescent Grove Advisors LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 2.1% in the third quarter, HoldingsChannel reports. The firm owned 39,070 shares of the exchange traded fund’s stock after acquiring an additional 799 shares during the period. Invesco QQQ makes up approximately 1.9% of Crescent Grove Advisors LLC’s holdings, making the stock its 13th largest holding. Crescent Grove Advisors LLC’s holdings in Invesco QQQ were worth $19,095,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Westwood Holdings Group Inc. increased its position in 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 valued at $7,173,000 after acquiring an additional 1,993 shares during the last quarter. Bank Hapoalim BM lifted its stake in shares of Invesco QQQ by 5.5% in the 3rd 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 during the period. Socha Financial Group LLC lifted its stake in shares of Invesco QQQ by 1.3% in the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after purchasing an additional 1,153 shares during the period. SVB Wealth LLC boosted its holdings in shares of Invesco QQQ by 15.2% in the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after buying an additional 2,453 shares during the last quarter. Finally, WFA Asset Management Corp grew its position in Invesco QQQ by 70.6% during the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after buying an additional 1,894 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 1.3 %

QQQ opened at $492.21 on Wednesday. The firm’s 50 day simple moving average is $482.32 and its two-hundred day simple moving average is $470.09. Invesco QQQ has a 1-year low of $366.91 and a 1-year high of $503.52.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.