Oppenheimer Asset Management Inc. Increases Holdings in Invesco QQQ (NASDAQ:QQQ)

Oppenheimer Asset Management Inc. lifted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 128.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,508 shares of the exchange traded fund's stock after purchasing an additional 31,222 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Invesco QQQ were worth $27,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cornerstone Planning Group LLC raised its stake in shares of Invesco QQQ by 4.4% during the third quarter. Cornerstone Planning Group LLC now owns 134,097 shares of the exchange traded fund's stock worth $67,070,000 after acquiring an additional 5,623 shares in the last quarter. OLD Second National Bank of Aurora grew its position in Invesco QQQ by 3.9% during the 3rd quarter. OLD Second National Bank of Aurora now owns 779 shares of the exchange traded fund's stock worth $380,000 after acquiring an additional 29 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in Invesco QQQ by 3.9% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 20,056 shares of the exchange traded fund's stock worth $9,789,000 after purchasing an additional 748 shares during the period. Encompass Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 28.0% during the third quarter. Encompass Wealth Advisors LLC now owns 1,897 shares of the exchange traded fund's stock valued at $926,000 after purchasing an additional 415 shares during the period. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC increased its stake in shares of Invesco QQQ by 5.7% in the third quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 8,513 shares of the exchange traded fund's stock worth $4,137,000 after buying an additional 462 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.1 %

NASDAQ:QQQ traded down $0.66 during trading hours on Wednesday, reaching $512.25. 24,494,106 shares of the company traded hands, compared to its average volume of 38,234,848. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The business's 50-day moving average price is $486.39 and its two-hundred day moving average price is $473.15.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%.

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.