Eaton Financial Holdings Company LLC Makes New $6.97 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Eaton Financial Holdings Company LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 14,274 shares of the exchange traded fund's stock, valued at approximately $6,967,000. Invesco QQQ comprises about 2.8% of Eaton Financial Holdings Company LLC's portfolio, making the stock its 9th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in shares of Invesco QQQ by 46,491.6% in the 3rd 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 acquiring an additional 32,516,210 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in 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 purchasing an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC raised its holdings in Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund's stock worth $409,513,000 after purchasing an additional 894,532 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Invesco QQQ by 13.0% during the third quarter. Toronto Dominion Bank now owns 4,261,790 shares of the exchange traded fund's stock valued at $2,080,052,000 after buying an additional 488,815 shares during the last quarter. Finally, Mirae Asset Securities USA Inc. purchased a new position in shares of Invesco QQQ in the 2nd quarter worth approximately $215,600,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock traded down $3.42 during trading hours on Thursday, reaching $526.50. 22,803,494 shares of the company's stock were exchanged, compared to its average volume of 37,231,215. Invesco QQQ has a fifty-two week low of $395.34 and a fifty-two week high of $530.61. The stock's 50 day moving average is $502.02 and its 200-day moving average is $482.98.

Invesco QQQ Cuts Dividend

The business also recently disclosed 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 of this dividend 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.