Peak Asset Management LLC Grows Position in Invesco QQQ (NASDAQ:QQQ)

Peak Asset Management LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,594 shares of the exchange traded fund’s stock after buying an additional 850 shares during the period. Invesco QQQ comprises 1.6% of Peak Asset Management LLC’s investment portfolio, making the stock its 24th largest position. Peak Asset Management LLC’s holdings in Invesco QQQ were worth $8,587,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in QQQ. International Assets Investment Management LLC boosted its stake in shares of Invesco QQQ by 46,491.6% during the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the period. Ameriprise Financial Inc. raised its position 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 valued at $2,379,676,000 after purchasing an additional 338,494 shares during the last quarter. Steel Grove Capital Advisors LLC grew its position in shares of Invesco QQQ by 934.0% in 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 during the last quarter. Northwestern Mutual Wealth Management Co. increased 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 increased its position in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after buying an additional 2,762,571 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.1 %

Invesco QQQ stock opened at $512.25 on Thursday. Invesco QQQ has a fifty-two week low of $382.66 and a fifty-two week high of $515.58. The stock’s 50 day simple moving average is $486.39 and its two-hundred day simple moving average is $473.15.

Invesco QQQ Cuts Dividend

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

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.