Xcel Wealth Management LLC Purchases 525 Shares of Invesco QQQ (NASDAQ:QQQ)

Xcel Wealth Management LLC grew its position in Invesco QQQ (NASDAQ:QQQ) by 50.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,573 shares of the exchange traded fund’s stock after purchasing an additional 525 shares during the quarter. Xcel Wealth Management LLC’s holdings in Invesco QQQ were worth $768,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Prospect Financial Services LLC grew its stake in shares of Invesco QQQ by 0.3% in the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after acquiring an additional 21 shares in the last quarter. Skyline Advisors Inc. grew its stake in shares of Invesco QQQ by 5.0% in the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock worth $215,000 after acquiring an additional 21 shares in the last quarter. Sweeney & Michel LLC grew its position in Invesco QQQ by 4.0% during the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after buying an additional 22 shares during the period. Family Firm Inc. grew its position in Invesco QQQ by 3.1% during the second quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock valued at $354,000 after buying an additional 22 shares during the period. Finally, MPS Loria Financial Planners LLC grew its position in Invesco QQQ by 0.8% during the third quarter. MPS Loria Financial Planners LLC now owns 2,656 shares of the exchange traded fund’s stock valued at $1,297,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $495.96 on Wednesday. The firm has a 50-day moving average of $479.23 and a 200 day moving average of $465.96. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

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

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.