Balboa Wealth Partners bought a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,813 shares of the exchange traded fund's stock, valued at approximately $6,254,000. Invesco QQQ accounts for 1.6% of Balboa Wealth Partners' holdings, making the stock its 10th biggest holding.
Other hedge funds also recently added to or reduced their stakes in the company. PBCay One RSC Ltd raised its position in Invesco QQQ by 6.2% during the first quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund's stock worth $166,504,000 after acquiring an additional 22,000 shares during the last quarter. Russell Investments Group Ltd. increased its position in Invesco QQQ by 140.6% during the first quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund's stock worth $108,000 after buying an additional 142 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Invesco QQQ in the first quarter worth $844,000. Tocqueville Asset Management L.P. lifted its position in shares of Invesco QQQ by 3.7% in the first quarter. Tocqueville Asset Management L.P. now owns 3,968 shares of the exchange traded fund's stock valued at $1,762,000 after acquiring an additional 143 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Invesco QQQ in the first quarter valued at $496,000. 44.58% of the stock is owned by hedge funds and other institutional investors.
Invesco QQQ Trading Down 2.4 %
Invesco QQQ stock traded down $12.12 during midday trading on Friday, reaching $496.57. 51,414,443 shares of the company were exchanged, compared to its average volume of 38,252,949. The firm's 50-day simple moving average is $488.38 and its 200-day simple moving average is $473.67. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58.
Invesco QQQ Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, September 23rd.
Invesco QQQ Profile
(
Free Report)
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.
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