Savvy Advisors Inc. Raises Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Savvy Advisors Inc. lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 25.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,880 shares of the exchange traded fund’s stock after acquiring an additional 2,012 shares during the quarter. Invesco QQQ accounts for about 1.5% of Savvy Advisors Inc.’s holdings, making the stock its 12th largest position. Savvy Advisors Inc.’s holdings in Invesco QQQ were worth $4,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of QQQ. New Covenant Trust Company N.A. bought a new position in Invesco QQQ during the first quarter valued at $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ during the second quarter valued at $30,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ during the first quarter valued at $29,000. Legacy Bridge LLC grew its holdings in Invesco QQQ by 800.0% during the first quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Finally, Voisard Asset Management Group Inc. bought a new position in Invesco QQQ during the fourth quarter valued at $35,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $489.47 on Friday. The stock has a fifty day simple moving average of $467.87 and a two-hundred day simple moving average of $459.61. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. 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.