Global Wealth Management Investment Advisory Inc. Acquires 479 Shares of Invesco QQQ (NASDAQ:QQQ)

Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,463 shares of the exchange traded fund’s stock after purchasing an additional 479 shares during the period. Invesco QQQ comprises approximately 3.1% of Global Wealth Management Investment Advisory Inc.’s holdings, making the stock its 5th largest position. Global Wealth Management Investment Advisory Inc.’s holdings in Invesco QQQ were worth $14,380,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Westwood Holdings Group Inc. increased 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 valued at $7,173,000 after acquiring an additional 1,993 shares during the last quarter. Bank Hapoalim BM increased its holdings in shares of Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after acquiring an additional 6,347 shares during the last quarter. Socha Financial Group LLC increased its holdings in shares of Invesco QQQ by 1.3% during the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after acquiring an additional 1,153 shares during the last quarter. SVB Wealth LLC increased its holdings in shares of Invesco QQQ by 15.2% during the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after acquiring an additional 2,453 shares during the last quarter. Finally, WFA Asset Management Corp increased its holdings in shares of Invesco QQQ by 70.6% during 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 acquiring an additional 1,894 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ stock traded up $3.84 during mid-day trading on Tuesday, reaching $489.85. The stock had a trading volume of 2,482,720 shares, compared to its average volume of 38,396,344. The firm’s 50 day simple moving average is $482.01 and its 200 day simple moving average is $469.55. Invesco QQQ has a one year low of $366.91 and a one year high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date of this dividend was 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.