Brookstone Capital Management Purchases 18,721 Shares of Invesco QQQ (NASDAQ:QQQ)

Brookstone Capital Management grew its position in Invesco QQQ (NASDAQ:QQQ) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,922 shares of the exchange traded fund’s stock after purchasing an additional 18,721 shares during the period. Invesco QQQ makes up approximately 2.7% of Brookstone Capital Management’s holdings, making the stock its 2nd largest holding. Brookstone Capital Management owned approximately 0.06% of Invesco QQQ worth $184,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of QQQ. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the 1st quarter valued at about $28,000. Deane Retirement Strategies Inc. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at about $29,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the 2nd quarter valued at about $30,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Invesco QQQ during the 4th quarter valued at about $35,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at about $40,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 1.5 %

Shares of NASDAQ:QQQ opened at $489.30 on Wednesday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The business’s 50-day simple moving average is $469.92 and its 200 day simple moving average is $462.07.

Invesco QQQ Cuts Dividend

The business also recently announced 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 is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

Invesco QQQ 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.