Peterson Wealth Management Has $13.95 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Peterson Wealth Management grew its position in Invesco QQQ (NASDAQ:QQQ) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,587 shares of the exchange traded fund’s stock after acquiring an additional 1,638 shares during the period. Invesco QQQ accounts for 8.8% of Peterson Wealth Management’s portfolio, making the stock its 2nd largest holding. Peterson Wealth Management’s holdings in Invesco QQQ were worth $13,953,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. 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 shares of Invesco QQQ in the 1st quarter valued at $40,000. CGC Financial Services LLC grew its holdings in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after buying an additional 81 shares during the period. PFG Private Wealth Management LLC grew its holdings in shares of Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares during the period. Finally, Legacy Bridge LLC grew its holdings in shares of Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after buying an additional 45 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ stock opened at $505.30 on Friday. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58. The firm has a fifty day moving average of $495.58 and a 200-day moving average of $478.50.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. 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.