Invesco QQQ (NASDAQ:QQQ) is Bank Hapoalim BM's Largest Position

Bank Hapoalim BM increased its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 121,397 shares of the exchange traded fund's stock after buying an additional 6,347 shares during the quarter. Invesco QQQ comprises 9.0% of Bank Hapoalim BM's holdings, making the stock its largest position. Bank Hapoalim BM's holdings in Invesco QQQ were worth $59,250,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund's stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund's stock valued at $2,379,676,000 after buying an additional 338,494 shares during the period. Steel Grove Capital Advisors LLC raised its holdings in shares of Invesco QQQ by 934.0% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund's stock valued at $1,525,067,000 after buying an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Invesco QQQ by 1.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund's stock valued at $1,532,904,000 after buying an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Invesco QQQ by 18,691.3% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund's stock valued at $13,307,000 after buying an additional 2,762,571 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of QQQ stock traded down $12.53 on Thursday, hitting $483.85. The stock had a trading volume of 39,889,324 shares, compared to its average volume of 38,654,180. Invesco QQQ has a 1 year low of $346.62 and a 1 year high of $503.52. The company's 50 day moving average price is $481.47 and its 200-day moving average price is $468.04.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.56%.

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.