Invesco QQQ (NASDAQ:QQQ) Stake Boosted by Anchor Investment Management LLC

Anchor Investment Management LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,889 shares of the exchange traded fund’s stock after buying an additional 693 shares during the quarter. Invesco QQQ comprises 2.0% of Anchor Investment Management LLC’s portfolio, making the stock its 5th largest position. Anchor Investment Management LLC’s holdings in Invesco QQQ were worth $20,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tudor Financial Inc. purchased a new stake in Invesco QQQ in the third quarter worth about $3,376,000. Advisory Resource Group grew its holdings in Invesco QQQ by 5.8% in the third quarter. Advisory Resource Group now owns 14,457 shares of the exchange traded fund’s stock worth $7,056,000 after purchasing an additional 791 shares during the period. McIlrath & Eck LLC grew its holdings in Invesco QQQ by 15.9% in the third quarter. McIlrath & Eck LLC now owns 20,218 shares of the exchange traded fund’s stock worth $9,868,000 after purchasing an additional 2,767 shares during the period. Discipline Wealth Solutions LLC purchased a new stake in Invesco QQQ in the third quarter worth about $837,000. Finally, Rehmann Capital Advisory Group grew its holdings in Invesco QQQ by 6.1% in the third quarter. Rehmann Capital Advisory Group now owns 23,616 shares of the exchange traded fund’s stock worth $11,527,000 after purchasing an additional 1,365 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $529.92 on Thursday. The firm’s 50-day simple moving average is $502.02 and its two-hundred day simple moving average is $482.98. Invesco QQQ has a fifty-two week low of $394.41 and a fifty-two week high of $530.61.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.51%. 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.