Invesco QQQ (NASDAQ:QQQ) Stock Position Lifted by Pettinga Financial Advisors LLC

Pettinga Financial Advisors LLC increased its stake in Invesco QQQ (NASDAQ:QQQ) by 4.3% during the 1st quarter, HoldingsChannel reports. The firm owned 15,002 shares of the exchange traded fund’s stock after acquiring an additional 619 shares during the period. Invesco QQQ comprises 1.7% of Pettinga Financial Advisors LLC’s holdings, making the stock its 18th largest position. Pettinga Financial Advisors LLC’s holdings in Invesco QQQ were worth $6,661,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Natixis Advisors L.P. raised its stake in Invesco QQQ by 26.9% during the 3rd quarter. Natixis Advisors L.P. now owns 16,118 shares of the exchange traded fund’s stock valued at $5,775,000 after purchasing an additional 3,418 shares during the period. Gotham Asset Management LLC increased its stake in Invesco QQQ by 2.2% in the 3rd quarter. Gotham Asset Management LLC now owns 5,403 shares of the exchange traded fund’s stock valued at $1,936,000 after buying an additional 115 shares during the period. Lazard Asset Management LLC increased its stake in Invesco QQQ by 46.2% in the 3rd quarter. Lazard Asset Management LLC now owns 16,155 shares of the exchange traded fund’s stock valued at $5,787,000 after buying an additional 5,105 shares during the period. Becker Capital Management Inc. increased its stake in shares of Invesco QQQ by 237.2% during the 3rd quarter. Becker Capital Management Inc. now owns 13,908 shares of the exchange traded fund’s stock worth $4,990,000 after purchasing an additional 9,784 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in shares of Invesco QQQ by 30.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 67,687 shares of the exchange traded fund’s stock worth $24,250,000 after purchasing an additional 15,957 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $481.92 on Tuesday. The company’s fifty day moving average is $454.85 and its 200-day moving average is $436.77. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $487.20.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, June 24th will be issued a dividend of $0.7615 per share. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, June 24th.

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.