WorthPointe LLC Acquires 1,607 Shares of Invesco QQQ (NASDAQ:QQQ)

WorthPointe LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 50.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,818 shares of the exchange traded fund’s stock after purchasing an additional 1,607 shares during the period. Invesco QQQ comprises approximately 1.0% of WorthPointe LLC’s investment portfolio, making the stock its 16th biggest holding. WorthPointe LLC’s holdings in Invesco QQQ were worth $2,352,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QQQ. Westwood Holdings Group Inc. lifted its position in shares of Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after buying an additional 1,993 shares during the last quarter. Socha Financial Group LLC lifted its holdings in Invesco QQQ by 2.4% during the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the last quarter. Archer Investment Corp boosted its position in Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after purchasing an additional 4,025 shares during the period. Bank Hapoalim BM increased its stake in shares of Invesco QQQ by 5.5% in the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Finally, Arrow Financial Corp raised its position in shares of Invesco QQQ by 7.2% in the third quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock valued at $68,997,000 after purchasing an additional 9,516 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $509.31 on Wednesday. The firm’s 50 day moving average is $494.46 and its 200 day moving average is $478.12. 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 announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend 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.