Prospect Financial Services LLC Has $4.69 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Prospect Financial Services LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 50.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,615 shares of the exchange traded fund’s stock after acquiring an additional 3,230 shares during the quarter. Invesco QQQ comprises about 2.9% of Prospect Financial Services LLC’s investment portfolio, making the stock its 9th biggest holding. Prospect Financial Services LLC’s holdings in Invesco QQQ were worth $4,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Skyline Advisors Inc. increased its stake in Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after purchasing an additional 21 shares in the last quarter. Sweeney & Michel LLC grew its holdings in shares of Invesco QQQ by 4.0% in the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after buying an additional 22 shares during the period. Family Firm Inc. increased its position in shares of Invesco QQQ by 3.1% in the 2nd quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after buying an additional 22 shares in the last quarter. Merriman Wealth Management LLC raised its stake in Invesco QQQ by 0.5% during the 2nd quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock worth $2,420,000 after buying an additional 23 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after acquiring an additional 24 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 1.3 %

Shares of QQQ opened at $490.85 on Wednesday. The stock has a 50 day simple moving average of $474.82 and a 200 day simple moving average of $464.10. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Cuts Dividend

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

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.