CFS Investment Advisory Services LLC Takes $1.93 Million Position in Invesco QQQ (NASDAQ:QQQ)

CFS Investment Advisory Services LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,951 shares of the exchange traded fund’s stock, valued at approximately $1,929,000.

A number of other hedge funds have also made changes to their positions in QQQ. International Assets Investment Management LLC lifted its position in shares of Invesco QQQ by 46,491.6% in 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 buying an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings 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 worth $2,379,676,000 after buying an additional 338,494 shares during the period. Steel Grove Capital Advisors LLC increased its position in 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 valued at $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 worth $1,532,904,000 after purchasing an additional 33,790 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its stake 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 purchasing an additional 2,762,571 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $505.17 on Friday. The business’s fifty day simple moving average is $492.47 and its 200 day simple moving average is $476.22. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. 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.