Destination Wealth Management increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 23.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,971 shares of the exchange traded fund's stock after buying an additional 3,253 shares during the period. Destination Wealth Management's holdings in Invesco QQQ were worth $8,283,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in QQQ. Vanguard Group Inc. increased its holdings in Invesco QQQ by 5.0% in the first quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund's stock valued at $7,779,000 after buying an additional 832 shares during the last quarter. Lantz Financial LLC purchased a new stake in Invesco QQQ during the second quarter worth approximately $214,000. Archford Capital Strategies LLC boosted its holdings in Invesco QQQ by 277.1% in the second quarter. Archford Capital Strategies LLC now owns 1,980 shares of the exchange traded fund's stock valued at $949,000 after purchasing an additional 1,455 shares in the last quarter. ERn Financial LLC boosted its holdings in Invesco QQQ by 12.8% in the second quarter. ERn Financial LLC now owns 661 shares of the exchange traded fund's stock valued at $317,000 after purchasing an additional 75 shares in the last quarter. Finally, Home Federal Bank of Tennessee increased its stake in Invesco QQQ by 2.8% in the second quarter. Home Federal Bank of Tennessee now owns 4,690 shares of the exchange traded fund's stock valued at $2,247,000 after purchasing an additional 127 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.
Invesco QQQ Trading Down 0.6 %
NASDAQ:QQQ traded down $3.42 during mid-day trading on Thursday, reaching $526.50. 23,380,307 shares of the stock were exchanged, compared to its average volume of 37,237,086. Invesco QQQ has a 1 year low of $395.34 and a 1 year high of $530.61. The company has a 50 day simple moving average of $502.02 and a 200-day simple moving average of $482.98.
Invesco QQQ Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.51%.
About Invesco QQQ
(
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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