Avestar Capital LLC Purchases 5,737 Shares of Invesco QQQ (NASDAQ:QQQ)

Avestar Capital LLC boosted its position in Invesco QQQ (NASDAQ:QQQ) by 54.4% during the third quarter, Holdings Channel.com reports. The fund owned 16,285 shares of the exchange traded fund’s stock after acquiring an additional 5,737 shares during the period. Invesco QQQ accounts for 0.8% of Avestar Capital LLC’s holdings, making the stock its 22nd largest holding. Avestar Capital LLC’s holdings in Invesco QQQ were worth $7,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Invesco QQQ by 46,491.6% during the 3rd 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. increased its stake in shares of Invesco QQQ by 7.3% during the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after buying an additional 338,494 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Invesco QQQ by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after acquiring an additional 33,790 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Invesco QQQ by 18,691.3% in 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 acquiring an additional 2,762,571 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Invesco QQQ by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock valued at $1,219,115,000 after purchasing an additional 64,401 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.4 %

NASDAQ:QQQ opened at $508.41 on Tuesday. The company has a 50-day moving average price of $493.75 and a 200-day moving average price of $477.65. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.

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.