Latko Wealth Management Ltd. Invests $7.92 Million in Invesco QQQ (NASDAQ:QQQ)

Latko Wealth Management Ltd. bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 16,220 shares of the exchange traded fund’s stock, valued at approximately $7,916,000. Invesco QQQ accounts for about 4.8% of Latko Wealth Management Ltd.’s portfolio, making the stock its 6th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. Westwood Holdings Group Inc. raised its stake in Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after purchasing an additional 1,993 shares during the period. Socha Financial Group LLC grew its holdings in shares of Invesco QQQ by 1.3% during the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after buying an additional 1,153 shares in the last quarter. Bank Hapoalim BM raised its position in Invesco QQQ by 5.5% during the third quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after buying an additional 6,347 shares during the period. SVB Wealth LLC lifted its stake in Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after acquiring an additional 2,453 shares in the last quarter. Finally, WFA Asset Management Corp boosted its position in Invesco QQQ by 70.6% during the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after acquiring an additional 1,894 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.7 %

NASDAQ:QQQ opened at $487.43 on Friday. Invesco QQQ has a fifty-two week low of $360.30 and a fifty-two week high of $503.52. The stock’s 50-day moving average is $481.80 and its two-hundred day moving average is $468.80.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was 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.