Pettinga Financial Advisors LLC Buys 1,854 Shares of Invesco QQQ (NASDAQ:QQQ)

Pettinga Financial Advisors LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ) by 13.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,475 shares of the exchange traded fund’s stock after acquiring an additional 1,854 shares during the period. Invesco QQQ comprises about 1.8% of Pettinga Financial Advisors LLC’s holdings, making the stock its 17th biggest position. Pettinga Financial Advisors LLC’s holdings in Invesco QQQ were worth $7,553,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its holdings in shares of Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after acquiring an additional 1,993 shares during the period. Socha Financial Group LLC lifted its stake in Invesco QQQ by 1.3% during the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after purchasing an additional 1,153 shares during the period. SVB Wealth LLC boosted its holdings in Invesco QQQ by 15.2% during the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after purchasing an additional 2,453 shares in the last quarter. WFA Asset Management Corp grew its stake in shares of Invesco QQQ by 70.6% in the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after purchasing an additional 1,894 shares during the period. Finally, Daymark Wealth Partners LLC raised its holdings in shares of Invesco QQQ by 30.4% in the 2nd quarter. Daymark Wealth Partners LLC now owns 17,239 shares of the exchange traded fund’s stock worth $8,259,000 after buying an additional 4,015 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.6 %

Shares of QQQ stock opened at $495.32 on Friday. The stock’s fifty day simple moving average is $480.10 and its 200 day simple moving average is $466.30. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently announced 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. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

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.