Benchmark Financial Wealth Advisors LLC Boosts Holdings in Invesco QQQ (NASDAQ:QQQ)

Benchmark Financial Wealth Advisors LLC grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.2% during the third quarter, HoldingsChannel reports. The firm owned 2,010 shares of the exchange traded fund’s stock after buying an additional 43 shares during the period. Benchmark Financial Wealth Advisors LLC’s holdings in Invesco QQQ were worth $981,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after buying an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Invesco QQQ by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after buying an additional 338,494 shares during the last quarter. Steel Grove Capital Advisors LLC increased its stake in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Invesco QQQ by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after buying an additional 33,790 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its stake in shares of 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 buying an additional 2,762,571 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $492.21 on Wednesday. Invesco QQQ has a 12-month low of $366.91 and a 12-month high of $503.52. The company has a fifty day simple moving average of $482.32 and a 200 day simple moving average of $470.09.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.55%.

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.