TKG Advisors LLC Has $6.96 Million Stake in Invesco QQQ (NASDAQ:QQQ)

TKG Advisors LLC lifted its position in Invesco QQQ (NASDAQ:QQQ) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,258 shares of the exchange traded fund’s stock after buying an additional 448 shares during the period. Invesco QQQ makes up 3.4% of TKG Advisors LLC’s holdings, making the stock its 4th largest position. TKG Advisors LLC’s holdings in Invesco QQQ were worth $6,959,000 at the end of the most recent quarter.

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

Invesco QQQ Stock Performance

QQQ stock traded down $0.91 during trading on Monday, hitting $486.52. The company had a trading volume of 3,227,317 shares, compared to its average volume of 38,470,758. The firm has a 50-day moving average price of $481.80 and a 200-day moving average price of $469.11. Invesco QQQ has a 12 month low of $366.91 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

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