Westfuller Advisors LLC Makes New $2.48 Million Investment in Invesco QQQ (NASDAQ:QQQ)

Westfuller Advisors LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,065 shares of the exchange traded fund's stock, valued at approximately $2,475,000. Invesco QQQ accounts for approximately 1.8% of Westfuller Advisors LLC's investment portfolio, making the stock its 16th biggest holding.

A number of other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in 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 during the period. Ameriprise Financial Inc. grew its holdings in Invesco QQQ by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund's stock worth $2,379,676,000 after acquiring an additional 338,494 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its holdings in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund's stock worth $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Invesco QQQ by 1.1% during 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 purchasing an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC raised its position in shares of Invesco QQQ by 18,691.3% during 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 acquiring an additional 2,762,571 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

QQQ stock traded down $12.12 during mid-day trading on Friday, hitting $496.57. 51,461,054 shares of the company were exchanged, compared to its average volume of 29,269,732. Invesco QQQ has a 1-year low of $382.66 and a 1-year high of $515.58. The firm's 50 day simple moving average is $489.33 and its 200 day simple moving average is $474.46.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Monday, September 23rd.

Invesco QQQ Company 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.