Sky Investment Group LLC Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Sky Investment Group LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 509 shares of the exchange traded fund’s stock, valued at approximately $248,000.

Several other institutional investors also recently made changes to their positions in the stock. Congress Asset Management Co. MA bought a new stake in Invesco QQQ in the first quarter valued at $215,000. CGN Advisors LLC lifted its position in Invesco QQQ by 47.4% in the 1st quarter. CGN Advisors LLC now owns 1,213 shares of the exchange traded fund’s stock valued at $539,000 after purchasing an additional 390 shares during the last quarter. Riverview Trust Co acquired a new position in Invesco QQQ during the 1st quarter valued at about $48,000. Exchange Bank acquired a new position in Invesco QQQ during the 1st quarter valued at about $328,000. Finally, Security National Bank grew its position in Invesco QQQ by 86.3% in the 1st quarter. Security National Bank now owns 1,157 shares of the exchange traded fund’s stock worth $514,000 after purchasing an additional 536 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ traded down $0.73 during mid-day trading on Tuesday, reaching $494.69. 9,539,539 shares of the company’s stock traded hands, compared to its average volume of 38,822,539. The business’s 50-day moving average price is $478.57 and its 200-day moving average price is $465.57. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

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