Geneva Partners LLC Boosts Stock Position in Invesco QQQ (NASDAQ:QQQ)

Geneva Partners LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 0.4% in the third quarter, Holdings Channel reports. The institutional investor owned 7,139 shares of the exchange traded fund’s stock after purchasing an additional 30 shares during the period. Invesco QQQ accounts for approximately 1.5% of Geneva Partners LLC’s portfolio, making the stock its 24th biggest position. Geneva Partners LLC’s holdings in Invesco QQQ were worth $3,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ in the 2nd quarter worth $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ in the first quarter worth $40,000. CGC Financial Services LLC lifted its holdings in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.3 %

NASDAQ QQQ opened at $486.01 on Tuesday. Invesco QQQ has a one year low of $366.91 and a one year high of $503.52. The stock has a 50-day moving average of $482.01 and a 200 day moving average of $469.55.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%.

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.