HBW Advisory Services LLC Grows Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

HBW Advisory Services LLC boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 48.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,548 shares of the exchange traded fund’s stock after buying an additional 17,104 shares during the period. Invesco QQQ makes up about 3.7% of HBW Advisory Services LLC’s holdings, making the stock its 3rd largest holding. HBW Advisory Services LLC’s holdings in Invesco QQQ were worth $25,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ during the 1st quarter worth $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ during the second quarter worth about $30,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the 1st quarter worth about $29,000. Voisard Asset Management Group Inc. bought a new position in shares of Invesco QQQ during the 4th quarter valued at about $35,000. Finally, Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ during the 1st quarter valued at about $40,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock traded up $3.96 during trading on Friday, reaching $485.55. The company’s stock had a trading volume of 21,347,904 shares, compared to its average volume of 39,637,281. The firm’s 50-day moving average is $469.07 and its two-hundred day moving average is $461.18. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a 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.