Invesco QQQ (NASDAQ:QQQ) is Northeast Financial Consultants Inc’s 5th Largest Position

Northeast Financial Consultants Inc raised its position in Invesco QQQ (NASDAQ:QQQ) by 9.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,374 shares of the exchange traded fund’s stock after purchasing an additional 15,127 shares during the period. Invesco QQQ accounts for 3.9% of Northeast Financial Consultants Inc’s investment portfolio, making the stock its 5th largest holding. Northeast Financial Consultants Inc’s holdings in Invesco QQQ were worth $84,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. Magnolia Capital Advisors LLC purchased a new position in shares of Invesco QQQ in the 2nd quarter valued at about $368,000. Copperwynd Financial LLC boosted its holdings in Invesco QQQ by 4.7% in the second quarter. Copperwynd Financial LLC now owns 53,985 shares of the exchange traded fund’s stock valued at $25,431,000 after purchasing an additional 2,448 shares in the last quarter. Buck Wealth Strategies LLC purchased a new position in Invesco QQQ in the second quarter valued at approximately $6,518,000. Chicago Wealth Management Inc. increased its stake in Invesco QQQ by 5.1% in the second quarter. Chicago Wealth Management Inc. now owns 14,660 shares of the exchange traded fund’s stock valued at $7,025,000 after purchasing an additional 711 shares during the last quarter. Finally, Aviso Wealth Management acquired a new stake in Invesco QQQ during the second quarter worth approximately $264,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $486.75 on Friday. The company has a fifty day simple moving average of $468.10 and a 200-day simple moving average of $460.07. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, September 23rd.

About Invesco QQQ

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.