Baltimore Washington Financial Advisors Inc. Purchases 2,120 Shares of Invesco QQQ (NASDAQ:QQQ)

Baltimore Washington Financial Advisors Inc. grew its position in Invesco QQQ (NASDAQ:QQQ) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 186,515 shares of the exchange traded fund’s stock after acquiring an additional 2,120 shares during the quarter. Invesco QQQ makes up about 4.9% of Baltimore Washington Financial Advisors Inc.’s investment portfolio, making the stock its 2nd largest holding. Baltimore Washington Financial Advisors Inc.’s holdings in Invesco QQQ were worth $91,032,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of QQQ. Northeast Investment Management lifted its stake in Invesco QQQ by 0.6% during the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after purchasing an additional 20 shares during the last quarter. Planning Capital Management Corp lifted its stake in Invesco QQQ by 7.1% during the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after purchasing an additional 20 shares during the last quarter. Prospect Financial Services LLC lifted its stake in Invesco QQQ by 0.3% during the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the last quarter. Skyline Advisors Inc. lifted its stake in Invesco QQQ by 5.0% during the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after purchasing an additional 21 shares during the last quarter. Finally, Madden Advisory Services Inc. lifted its stake in Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after purchasing an additional 21 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $505.79 on Friday. The business has a fifty day moving average price of $493.08 and a two-hundred day moving average price of $476.93. Invesco QQQ has a fifty-two week low of $382.66 and a fifty-two week high of $515.58.

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. This represents a $2.71 annualized dividend and a 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.