Investment Partners Asset Management Inc. Raises Stake in Invesco QQQ (NASDAQ:QQQ)

Investment Partners Asset Management Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,240 shares of the exchange traded fund’s stock after acquiring an additional 44 shares during the period. Invesco QQQ accounts for approximately 1.3% of Investment Partners Asset Management Inc.’s portfolio, making the stock its 18th biggest position. Investment Partners Asset Management Inc.’s holdings in Invesco QQQ were worth $1,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of 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 worth $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Steel Grove Capital Advisors LLC increased its position in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC increased its holdings in Invesco QQQ by 6,215.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after purchasing an additional 894,532 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Invesco QQQ in the first quarter valued at approximately $304,591,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.5 %

Shares of QQQ traded up $2.61 during midday trading on Monday, hitting $497.93. 5,869,467 shares of the stock were exchanged, compared to its average volume of 38,671,945. Invesco QQQ has a 52-week low of $346.45 and a 52-week high of $503.52. The stock has a fifty day simple moving average of $480.51 and a 200 day simple moving average of $467.05.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, September 23rd.

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.