Cornerstone Wealth Group LLC Buys 303 Shares of Invesco QQQ (NASDAQ:QQQ)

Cornerstone Wealth Group LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,267 shares of the exchange traded fund’s stock after purchasing an additional 303 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Invesco QQQ were worth $2,083,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the first quarter worth $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ in the second quarter worth $30,000. Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ in the first quarter worth $40,000. CGC Financial Services LLC lifted its position in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in shares of Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $496.38 on Thursday. Invesco QQQ has a 1-year low of $346.62 and a 1-year high of $503.52. The company’s fifty day simple moving average is $481.47 and its 200 day simple moving average is $468.04.

Invesco QQQ Cuts Dividend

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

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.