Keudell Morrison Wealth Management Buys 75 Shares of Invesco QQQ (NASDAQ:QQQ)

Keudell Morrison Wealth Management lifted its stake in Invesco QQQ (NASDAQ:QQQ) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,931 shares of the exchange traded fund’s stock after buying an additional 75 shares during the quarter. Invesco QQQ comprises 0.8% of Keudell Morrison Wealth Management’s portfolio, making the stock its 26th biggest holding. Keudell Morrison Wealth Management’s holdings in Invesco QQQ were worth $2,895,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Ascent Wealth Partners LLC increased its stake in Invesco QQQ by 0.4% in the 3rd quarter. Ascent Wealth Partners LLC now owns 94,245 shares of the exchange traded fund’s stock worth $45,998,000 after buying an additional 335 shares in the last quarter. Washington Trust Bank grew its position in shares of Invesco QQQ by 80.1% during the third quarter. Washington Trust Bank now owns 1,070 shares of the exchange traded fund’s stock worth $522,000 after purchasing an additional 476 shares in the last quarter. Jmac Enterprises LLC raised its stake in Invesco QQQ by 2.7% during the 3rd quarter. Jmac Enterprises LLC now owns 74,622 shares of the exchange traded fund’s stock valued at $36,421,000 after purchasing an additional 1,963 shares during the period. Montecito Bank & Trust lifted its holdings in Invesco QQQ by 0.7% in the 3rd quarter. Montecito Bank & Trust now owns 9,929 shares of the exchange traded fund’s stock worth $4,846,000 after purchasing an additional 67 shares in the last quarter. Finally, Cozad Asset Management Inc. grew its holdings in Invesco QQQ by 1.5% during the 3rd quarter. Cozad Asset Management Inc. now owns 14,237 shares of the exchange traded fund’s stock valued at $6,949,000 after buying an additional 209 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ stock traded up $4.42 during mid-day trading on Thursday, hitting $510.00. The company had a trading volume of 4,683,756 shares, compared to its average volume of 38,363,219. The stock’s 50 day moving average price is $483.00 and its 200-day moving average price is $470.34. Invesco QQQ has a 52-week low of $369.57 and a 52-week high of $510.44.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was 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.