Barlow Wealth Partners Inc. Grows Holdings in Invesco QQQ (NASDAQ:QQQ)

Barlow Wealth Partners Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 16.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 944 shares of the exchange traded fund’s stock after buying an additional 136 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in Invesco QQQ were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of Invesco QQQ by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after purchasing an additional 338,494 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Invesco QQQ in the first quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC lifted its position in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Invesco QQQ by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after buying an additional 33,790 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.3 %

QQQ traded up $1.33 during trading on Wednesday, reaching $490.63. The company had a trading volume of 5,284,029 shares, compared to its average volume of 39,363,230. The business has a 50 day simple moving average of $470.56 and a 200-day simple moving average of $462.37. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.