Accredited Investors Inc. Raises Position in Invesco QQQ (NASDAQ:QQQ)

Accredited Investors Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1,851.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 73,344 shares of the exchange traded fund’s stock after buying an additional 69,585 shares during the period. Invesco QQQ makes up about 0.9% of Accredited Investors Inc.’s portfolio, making the stock its 19th largest position. Accredited Investors Inc.’s holdings in Invesco QQQ were worth $35,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of QQQ. Aptus Capital Advisors LLC boosted its holdings in Invesco QQQ by 1.4% during the third quarter. Aptus Capital Advisors LLC now owns 58,375 shares of the exchange traded fund’s stock worth $28,491,000 after purchasing an additional 829 shares during the last quarter. Commonwealth Retirement Investments LLC purchased a new stake in Invesco QQQ in the 3rd quarter valued at about $205,000. First Heartland Consultants Inc. lifted its position in shares of Invesco QQQ by 29.2% during the 3rd quarter. First Heartland Consultants Inc. now owns 65,592 shares of the exchange traded fund’s stock worth $32,013,000 after buying an additional 14,821 shares in the last quarter. Savvy Advisors Inc. boosted its stake in shares of Invesco QQQ by 6.5% in the 3rd quarter. Savvy Advisors Inc. now owns 10,521 shares of the exchange traded fund’s stock worth $5,135,000 after buying an additional 641 shares during the last quarter. Finally, Proactive Wealth Strategies LLC bought a new position in shares of Invesco QQQ in the third quarter valued at approximately $1,053,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ traded down $0.86 on Tuesday, reaching $512.98. 6,036,911 shares of the company’s stock traded hands, compared to its average volume of 38,208,918. The stock’s 50 day simple moving average is $485.37 and its two-hundred day simple moving average is $472.57. Invesco QQQ has a 52-week low of $375.24 and a 52-week high of $515.58.

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 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.