National Wealth Management Group LLC Raises Stake in Invesco QQQ (NASDAQ:QQQ)

National Wealth Management Group LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 9.6% in the 3rd quarter, Holdings Channel reports. The fund owned 10,546 shares of the exchange traded fund’s stock after buying an additional 922 shares during the quarter. Invesco QQQ accounts for approximately 3.5% of National Wealth Management Group LLC’s holdings, making the stock its 6th largest position. National Wealth Management Group LLC’s holdings in Invesco QQQ were worth $5,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its holdings 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 worth $7,173,000 after purchasing an additional 1,993 shares in the last quarter. Socha Financial Group LLC boosted its position in shares of Invesco QQQ by 2.4% in the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after acquiring an additional 2,171 shares during the period. Archer Investment Corp grew its stake in Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock valued at $21,281,000 after acquiring an additional 4,025 shares in the last quarter. Bank Hapoalim BM increased its holdings in Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after acquiring an additional 6,347 shares during the period. Finally, Marco Investment Management LLC lifted its stake in Invesco QQQ by 48.1% in the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund’s stock worth $4,696,000 after purchasing an additional 3,123 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.9 %

NASDAQ:QQQ traded down $4.34 during trading hours on Wednesday, hitting $504.97. The stock had a trading volume of 4,777,466 shares, compared to its average volume of 37,772,840. The company has a 50 day simple moving average of $494.46 and a two-hundred day simple moving average of $478.12. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.54%. 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.