Freedom Investment Management Inc. Has $2.06 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Freedom Investment Management Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,228 shares of the exchange traded fund’s stock after buying an additional 177 shares during the quarter. Freedom Investment Management Inc.’s holdings in Invesco QQQ were worth $2,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in QQQ. Westwood Holdings Group Inc. raised its position in Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after buying an additional 1,993 shares during the last quarter. Socha Financial Group LLC grew its stake in shares of Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock worth $44,732,000 after acquiring an additional 2,171 shares in the last quarter. Archer Investment Corp raised its holdings in shares of Invesco QQQ by 10.2% in the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock valued at $21,281,000 after purchasing an additional 4,025 shares during the last quarter. Bank Hapoalim BM lifted its position in shares of Invesco QQQ by 5.5% in 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 boosted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.5 %

NASDAQ:QQQ opened at $509.31 on Wednesday. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58. The stock’s 50-day simple moving average is $494.46 and its 200 day simple moving average is $478.12.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

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.