Invesco QQQ (NASDAQ:QQQ) Shares Acquired by Grandview Asset Management LLC

Grandview Asset Management LLC boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,595 shares of the exchange traded fund’s stock after buying an additional 528 shares during the quarter. Invesco QQQ accounts for approximately 5.5% of Grandview Asset Management LLC’s investment portfolio, making the stock its 4th largest position. Grandview Asset Management LLC’s holdings in Invesco QQQ were worth $9,564,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in shares of Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after acquiring an additional 338,494 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Invesco QQQ during the first quarter valued at $1,580,776,000. Steel Grove Capital Advisors LLC lifted its stake in Invesco QQQ by 934.0% in the 1st 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 acquiring an additional 3,102,568 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Invesco QQQ by 1.1% during the 2nd 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 acquiring an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC grew its stake in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

QQQ traded up $5.73 on Friday, reaching $487.32. 30,744,909 shares of the company traded hands, compared to its average volume of 39,685,844. The stock’s 50 day moving average price is $469.56 and its 200-day moving average price is $461.68. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

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 issued 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 0.56%.

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.