Beacon Wealthcare LLC Purchases New Position in Invesco QQQ (NASDAQ:QQQ)

Beacon Wealthcare LLC bought a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 428 shares of the exchange traded fund’s stock, valued at approximately $209,000. Invesco QQQ makes up approximately 0.1% of Beacon Wealthcare LLC’s investment portfolio, making the stock its 26th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in QQQ. Visionary Wealth Advisors increased its stake in shares of Invesco QQQ by 6.3% in the fourth quarter. Visionary Wealth Advisors now owns 9,316 shares of the exchange traded fund’s stock worth $3,815,000 after buying an additional 556 shares during the last quarter. Hancock Whitney Corp raised its stake in shares of Invesco QQQ by 311.7% in the 4th quarter. Hancock Whitney Corp now owns 11,602 shares of the exchange traded fund’s stock valued at $4,751,000 after purchasing an additional 8,784 shares in the last quarter. BOKF NA lifted its position in shares of Invesco QQQ by 6.6% during the fourth quarter. BOKF NA now owns 116,219 shares of the exchange traded fund’s stock worth $47,594,000 after purchasing an additional 7,157 shares during the last quarter. Oribel Capital Management LP grew its stake in Invesco QQQ by 109.8% in the fourth quarter. Oribel Capital Management LP now owns 2,150 shares of the exchange traded fund’s stock worth $880,000 after purchasing an additional 1,125 shares in the last quarter. Finally, First Financial Bankshares Inc bought a new stake in Invesco QQQ in the fourth quarter valued at about $296,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ traded up $2.24 during trading hours on Wednesday, hitting $491.54. 7,806,303 shares of the stock were exchanged, compared to its average volume of 39,388,762. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52. The stock has a 50-day simple moving average of $470.56 and a 200-day simple moving average of $462.37.

Invesco QQQ Cuts Dividend

The business 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 dividend of $0.677 per share. 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 0.55%.

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.