Index Fund Advisors Inc. Has $680,000 Stock Position in Invesco QQQ (NASDAQ:QQQ)

Index Fund Advisors Inc. increased its stake in Invesco QQQ (NASDAQ:QQQ) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,393 shares of the exchange traded fund’s stock after acquiring an additional 155 shares during the quarter. Index Fund Advisors Inc.’s holdings in Invesco QQQ were worth $680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Transform Wealth LLC acquired a new position in Invesco QQQ in the first quarter valued at approximately $456,000. Register Financial Advisors LLC lifted its stake in Invesco QQQ by 4.1% in the first quarter. Register Financial Advisors LLC now owns 835 shares of the exchange traded fund’s stock valued at $371,000 after buying an additional 33 shares during the period. Ameliora Wealth Management Ltd. lifted its stake in Invesco QQQ by 15.9% in the first quarter. Ameliora Wealth Management Ltd. now owns 7,290 shares of the exchange traded fund’s stock valued at $3,237,000 after buying an additional 1,000 shares during the period. Atwater Malick LLC acquired a new position in Invesco QQQ in the first quarter valued at approximately $293,000. Finally, Silverleafe Capital Partners LLC lifted its stake in Invesco QQQ by 0.5% in the first quarter. Silverleafe Capital Partners LLC now owns 40,634 shares of the exchange traded fund’s stock valued at $18,042,000 after buying an additional 215 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.8 %

Shares of NASDAQ:QQQ opened at $492.32 on Friday. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The stock’s 50 day moving average is $479.75 and its 200-day moving average is $466.12.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 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.