Invesco QQQ $QQQ Stock: True Freedom Investing LLC Raises Position

True Freedom Investing LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 173.2% during the third quarter, Holdings Channel.com reports. The firm owned 16,038 shares of the exchange traded fund’s stock after purchasing an additional 10,167 shares during the quarter. Invesco QQQ accounts for about 1.8% of True Freedom Investing LLC’s portfolio, making the stock its 8th largest position. True Freedom Investing LLC’s holdings in Invesco QQQ were worth $11,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Financial Group LLC IL increased its holdings in Invesco QQQ by 2.5% in the third quarter. Pinnacle Financial Group LLC IL now owns 2,310 shares of the exchange traded fund’s stock valued at $1,709,000 after buying an additional 57 shares during the last quarter. Walled Lake Planning & Wealth Management LLC raised its stake in Invesco QQQ by 11.0% in the third quarter. Walled Lake Planning & Wealth Management LLC now owns 2,045 shares of the exchange traded fund’s stock valued at $1,513,000 after buying an additional 202 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in Invesco QQQ by 4.1% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 398,824 shares of the exchange traded fund’s stock valued at $294,622,000 after buying an additional 15,659 shares in the last quarter. Pinkerton Wealth LLC lifted its holdings in Invesco QQQ by 134.0% during the 3rd quarter. Pinkerton Wealth LLC now owns 13,525 shares of the exchange traded fund’s stock worth $10,005,000 after buying an additional 7,744 shares during the last quarter. Finally, Virtue Capital Management LLC lifted its holdings in Invesco QQQ by 64.8% during the 3rd quarter. Virtue Capital Management LLC now owns 44,570 shares of the exchange traded fund’s stock worth $32,972,000 after buying an additional 17,525 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $690.49 on Monday. The stock has a 50-day simple moving average of $725.00 and a 200-day simple moving average of $679.01. Invesco QQQ has a 1 year low of $555.60 and a 1 year high of $762.86.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Monday, September 21st were given a dividend of $0.7514 per share. This is a drop from Invesco QQQ’s previous quarterly dividend of $0.8135. The ex-dividend date of this dividend was Monday, September 21st. This represents a $3.01 annualized dividend and a dividend yield of 0.4%.

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.