Invesco QQQ (NASDAQ:QQQ) is Avondale Wealth Management’s 3rd Largest Position

Avondale Wealth Management grew its stake in Invesco QQQ (NASDAQ:QQQ) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,567 shares of the exchange traded fund’s stock after buying an additional 278 shares during the period. Invesco QQQ makes up about 9.7% of Avondale Wealth Management’s holdings, making the stock its 3rd biggest holding. Avondale Wealth Management’s holdings in Invesco QQQ were worth $14,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ritholtz Wealth Management grew its stake in Invesco QQQ by 1.9% in the 3rd quarter. Ritholtz Wealth Management now owns 412,419 shares of the exchange traded fund’s stock worth $201,290,000 after buying an additional 7,784 shares in the last quarter. Code Waechter LLC purchased a new stake in shares of Invesco QQQ in the 3rd quarter valued at $1,077,000. Octavia Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 0.6% in the 3rd quarter. Octavia Wealth Advisors LLC now owns 12,013 shares of the exchange traded fund’s stock valued at $5,871,000 after purchasing an additional 76 shares in the last quarter. Bennett Selby Investments LP boosted its stake in shares of Invesco QQQ by 10.1% in the 3rd quarter. Bennett Selby Investments LP now owns 1,114 shares of the exchange traded fund’s stock valued at $544,000 after purchasing an additional 102 shares in the last quarter. Finally, RFG Holdings Inc. boosted its stake in shares of Invesco QQQ by 1.9% in the 3rd quarter. RFG Holdings Inc. now owns 81,343 shares of the exchange traded fund’s stock valued at $39,717,000 after purchasing an additional 1,541 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $0.77 during trading on Friday, reaching $493.36. The company’s stock had a trading volume of 20,644,497 shares, compared to its average volume of 39,311,230. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The firm’s 50-day moving average is $472.55 and its two-hundred day moving average is $463.13.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%.

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.