Nvest Financial LLC Has $2.67 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Nvest Financial LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,474 shares of the exchange traded fund’s stock after purchasing an additional 98 shares during the quarter. Invesco QQQ makes up about 1.5% of Nvest Financial LLC’s holdings, making the stock its 18th biggest position. Nvest Financial LLC’s holdings in Invesco QQQ were worth $2,672,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in shares of 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 acquiring an additional 338,494 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Invesco QQQ in the 1st quarter worth approximately $1,580,776,000. Steel Grove Capital Advisors LLC lifted its holdings 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 worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after purchasing an additional 33,790 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its position in shares of 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 period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ traded up $0.43 during midday trading on Friday, reaching $493.02. The stock had a trading volume of 12,536,630 shares, compared to its average volume of 39,270,480. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52. The firm’s fifty day simple moving average is $471.66 and its 200-day simple moving average is $462.79.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.

Invesco QQQ Company 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.