Lowe Wealth Advisors LLC Has $23.04 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Lowe Wealth Advisors LLC cut its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,206 shares of the exchange traded fund’s stock after selling 2,380 shares during the period. Invesco QQQ comprises approximately 9.9% of Lowe Wealth Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Lowe Wealth Advisors LLC’s holdings in Invesco QQQ were worth $23,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV bought a new position in Invesco QQQ in the 4th quarter valued at approximately $488,000. The Manufacturers Life Insurance Company raised its holdings in Invesco QQQ by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 118,579 shares of the exchange traded fund’s stock valued at $48,561,000 after buying an additional 5,689 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Invesco QQQ by 22.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 111,639 shares of the exchange traded fund’s stock valued at $45,719,000 after buying an additional 20,100 shares during the last quarter. Annex Advisory Services LLC raised its holdings in Invesco QQQ by 26.7% during the 4th quarter. Annex Advisory Services LLC now owns 3,681 shares of the exchange traded fund’s stock worth $1,508,000 after purchasing an additional 776 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Invesco QQQ by 187.9% during the 4th quarter. 1832 Asset Management L.P. now owns 8,012 shares of the exchange traded fund’s stock worth $3,281,000 after purchasing an additional 5,229 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $481.95 on Thursday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The firm has a 50 day moving average price of $468.60 and a two-hundred day moving average price of $461.03.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a $0.677 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.56%.

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.