Smith Salley Wealth Management Purchases 637 Shares of Invesco QQQ (NASDAQ:QQQ)

Smith Salley Wealth Management grew its position in Invesco QQQ (NASDAQ:QQQ) by 28.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,843 shares of the exchange traded fund’s stock after acquiring an additional 637 shares during the period. Smith Salley Wealth Management’s holdings in Invesco QQQ were worth $1,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ in the first quarter worth $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ in the 2nd quarter valued at about $30,000. Chelsea Counsel Co. acquired a new stake in Invesco QQQ in the 1st quarter valued at about $40,000. CGC Financial Services LLC lifted its position in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $495.32 on Friday. The firm has a 50 day simple moving average of $480.51 and a 200 day simple moving average of $466.85. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%.

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.