Mirador Capital Partners LP Purchases New Stake in Invesco QQQ (NASDAQ:QQQ)

Mirador Capital Partners LP acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,793 shares of the exchange traded fund’s stock, valued at approximately $2,339,000.

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

Invesco QQQ Stock Performance

Shares of QQQ traded up $5.73 during trading hours on Friday, hitting $487.32. 30,744,909 shares of the company were exchanged, compared to its average volume of 39,685,844. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The firm’s fifty day moving average is $469.56 and its 200 day moving average is $461.52.

Invesco QQQ Cuts Dividend

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

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.