Foundations Investment Advisors LLC Increases Position in Invesco QQQ (NASDAQ:QQQ)

Foundations Investment Advisors LLC grew its position in Invesco QQQ (NASDAQ:QQQ) by 16.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,556 shares of the exchange traded fund’s stock after purchasing an additional 23,329 shares during the quarter. Invesco QQQ makes up 1.7% of Foundations Investment Advisors LLC’s investment portfolio, making the stock its 12th largest position. Foundations Investment Advisors LLC’s holdings in Invesco QQQ were worth $80,803,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Congress Asset Management Co. MA acquired a new stake in Invesco QQQ during the first quarter worth approximately $215,000. CGN Advisors LLC grew its position in shares of Invesco QQQ by 47.4% in the 1st quarter. CGN Advisors LLC now owns 1,213 shares of the exchange traded fund’s stock valued at $539,000 after buying an additional 390 shares during the last quarter. Riverview Trust Co acquired a new stake in Invesco QQQ during the 1st quarter worth $48,000. Exchange Bank purchased a new stake in Invesco QQQ in the first quarter valued at $328,000. Finally, Security National Bank boosted its stake in Invesco QQQ by 86.3% in the first quarter. Security National Bank now owns 1,157 shares of the exchange traded fund’s stock valued at $514,000 after acquiring an additional 536 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.2 %

QQQ opened at $495.42 on Tuesday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The business’s 50-day simple moving average is $478.57 and its 200-day simple moving average is $465.57.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.