D.A. Davidson & CO. Raises Holdings in Invesco QQQ (NASDAQ:QQQ)

D.A. Davidson & CO. raised its stake in Invesco QQQ (NASDAQ:QQQ) by 1.5% during the third quarter, Holdings Channel.com reports. The firm owned 155,863 shares of the exchange traded fund’s stock after purchasing an additional 2,264 shares during the quarter. Invesco QQQ accounts for about 0.6% of D.A. Davidson & CO.’s portfolio, making the stock its 29th largest position. D.A. Davidson & CO.’s holdings in Invesco QQQ were worth $76,072,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ in the second quarter valued at $30,000. Chelsea Counsel Co. acquired a new stake in Invesco QQQ in the first quarter valued at $40,000. CGC Financial Services LLC lifted its holdings in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its holdings in Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.2 %

QQQ opened at $506.59 on Tuesday. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58. The business’s 50-day simple moving average is $493.75 and its 200-day simple moving average is $477.65.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid 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%.

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.