ERn Financial LLC Raises Stock Position in Invesco QQQ (NASDAQ:QQQ)

ERn Financial LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 34.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 890 shares of the exchange traded fund’s stock after buying an additional 229 shares during the quarter. ERn Financial LLC’s holdings in Invesco QQQ were worth $435,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brady Family Wealth LLC grew its holdings in shares of Invesco QQQ by 20.7% in the third quarter. Brady Family Wealth LLC now owns 1,167 shares of the exchange traded fund’s stock worth $570,000 after acquiring an additional 200 shares during the period. PFG Advisors grew its stake in shares of Invesco QQQ by 3.6% during the 3rd quarter. PFG Advisors now owns 83,721 shares of the exchange traded fund’s stock valued at $40,862,000 after purchasing an additional 2,879 shares during the period. Client First Capital LLC grew its stake in shares of Invesco QQQ by 0.6% during the 3rd quarter. Client First Capital LLC now owns 61,099 shares of the exchange traded fund’s stock valued at $29,821,000 after purchasing an additional 340 shares during the period. Prospect Financial Services LLC increased its position in shares of Invesco QQQ by 50.6% during the 3rd quarter. Prospect Financial Services LLC now owns 9,615 shares of the exchange traded fund’s stock valued at $4,693,000 after purchasing an additional 3,230 shares during the last quarter. Finally, Hutchens & Kramer Investment Management Group LLC lifted its stake in shares of Invesco QQQ by 2.4% in the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,678 shares of the exchange traded fund’s stock worth $1,770,000 after purchasing an additional 86 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ opened at $490.91 on Thursday. The company’s 50 day moving average is $475.94 and its 200 day moving average is $464.29. 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 declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.

Invesco QQQ Company 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.