Private Client Services LLC Has $3.08 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Private Client Services LLC raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 13.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,315 shares of the exchange traded fund’s stock after acquiring an additional 727 shares during the period. Invesco QQQ comprises about 1.7% of Private Client Services LLC’s investment portfolio, making the stock its 14th largest holding. Private Client Services LLC’s holdings in Invesco QQQ were worth $3,082,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of QQQ. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ in the first quarter valued at approximately $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Deane Retirement Strategies Inc. acquired a new stake in shares of Invesco QQQ in the first quarter valued at approximately $29,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Invesco QQQ in the fourth quarter valued at approximately $35,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $481.59 on Friday. The firm has a 50 day simple moving average of $469.07 and a 200 day simple moving average of $461.18. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 dividend on an annualized basis and a 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.