New Wave Wealth Advisors LLC Buys Shares of 19,172 Invesco QQQ (NASDAQ:QQQ)

New Wave Wealth Advisors LLC acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 19,172 shares of the exchange traded fund’s stock, valued at approximately $9,185,000. Invesco QQQ comprises approximately 4.9% of New Wave Wealth Advisors LLC’s holdings, making the stock its 4th biggest position.

A number of other institutional investors have also recently bought and sold shares of QQQ. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ during the 1st quarter worth $28,000. Deane Retirement Strategies Inc. bought a new position in Invesco QQQ during the first quarter valued at about $29,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the 2nd quarter worth about $30,000. Voisard Asset Management Group Inc. acquired a new position in shares of Invesco QQQ during the 4th quarter valued at about $35,000. Finally, Chelsea Counsel Co. bought a new position in shares of Invesco QQQ in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.3 %

Shares of QQQ stock opened at $488.07 on Tuesday. The business’s 50 day moving average is $468.22 and its two-hundred day moving average is $460.55. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

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.