Salvus Wealth Management LLC Acquires Shares of 511 Invesco QQQ (NASDAQ:QQQ)

Salvus Wealth Management LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 511 shares of the exchange traded fund’s stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Atwater Malick LLC bought a new stake in Invesco QQQ in the first quarter valued at about $293,000. Westwood Holdings Group Inc. increased its holdings in shares of Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after acquiring an additional 1,993 shares during the last quarter. GenWealth Group Inc. raised its position in shares of Invesco QQQ by 5.8% during the 1st quarter. GenWealth Group Inc. now owns 42,457 shares of the exchange traded fund’s stock valued at $18,851,000 after acquiring an additional 2,325 shares in the last quarter. Socha Financial Group LLC lifted its stake in Invesco QQQ by 1.3% during the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after purchasing an additional 1,153 shares during the last quarter. Finally, SVB Wealth LLC boosted its holdings in Invesco QQQ by 15.2% in the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after purchasing an additional 2,453 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.1 %

QQQ stock traded down $5.22 during trading on Monday, hitting $482.10. 24,248,670 shares of the company’s stock traded hands, compared to its average volume of 39,608,520. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The stock has a fifty day moving average price of $469.56 and a two-hundred day moving average price of $461.81.

Invesco QQQ Cuts Dividend

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

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.