Invesco QQQ (NASDAQ:QQQ) Position Boosted by HBW Advisory Services LLC

HBW Advisory Services LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 48.3% in the third quarter, Holdings Channel.com reports. The fund owned 52,548 shares of the exchange traded fund’s stock after purchasing an additional 17,104 shares during the period. Invesco QQQ comprises approximately 3.7% of HBW Advisory Services LLC’s portfolio, making the stock its 3rd largest holding. HBW Advisory Services LLC’s holdings in Invesco QQQ were worth $25,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ in the first quarter worth $28,000. Deane Retirement Strategies Inc. bought a new position in shares of Invesco QQQ in the 1st quarter worth about $29,000. Mechanics Financial Corp purchased a new position in Invesco QQQ during the 2nd quarter valued at about $30,000. Voisard Asset Management Group Inc. bought a new stake in Invesco QQQ during the fourth quarter worth about $35,000. Finally, Chelsea Counsel Co. purchased a new stake in Invesco QQQ in the first quarter worth about $40,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ stock traded up $3.96 during trading hours on Friday, hitting $485.55. 21,347,904 shares of the company’s stock traded hands, compared to its average volume of 39,637,281. The stock’s fifty day simple moving average is $469.07 and its two-hundred day simple moving average is $461.18. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.56%. 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.