Silver Oak Securities Incorporated Grows Position in Invesco QQQ (NASDAQ:QQQ)

Silver Oak Securities Incorporated lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 48.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 32,807 shares of the exchange traded fund's stock after acquiring an additional 10,656 shares during the period. Invesco QQQ makes up about 1.7% of Silver Oak Securities Incorporated's investment portfolio, making the stock its 5th biggest position. Silver Oak Securities Incorporated's holdings in Invesco QQQ were worth $15,948,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Element Wealth LLC grew its position in shares of Invesco QQQ by 57.6% during the 3rd quarter. Element Wealth LLC now owns 3,940 shares of the exchange traded fund's stock worth $1,923,000 after buying an additional 1,440 shares during the period. Harbour Trust & Investment Management Co lifted its position in shares of Invesco QQQ by 187.3% in the third quarter. Harbour Trust & Investment Management Co now owns 13,279 shares of the exchange traded fund's stock worth $6,481,000 after purchasing an additional 8,657 shares in the last quarter. Nicholson Wealth Management Group LLC acquired a new position in Invesco QQQ during the third quarter valued at approximately $410,000. Tectonic Advisors LLC acquired a new position in shares of Invesco QQQ during the 3rd quarter worth about $372,000. Finally, Financial Guidance Group Inc. lifted its holdings in Invesco QQQ by 4.5% during the 3rd quarter. Financial Guidance Group Inc. now owns 26,071 shares of the exchange traded fund's stock valued at $12,724,000 after purchasing an additional 1,134 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.6 %

QQQ stock traded up $3.00 during trading hours on Friday, hitting $495.32. 38,644,268 shares of the stock were exchanged, compared to its average volume of 38,829,707. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The company has a 50-day simple moving average of $480.10 and a two-hundred day simple moving average of $466.30.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid 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 of this dividend is Monday, September 23rd.

Invesco QQQ 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.