Crescent Sterling Ltd. Acquires New Position in Invesco QQQ (NASDAQ:QQQ)

Crescent Sterling Ltd. acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 602 shares of the exchange traded fund’s stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC lifted its stake in shares of Invesco QQQ by 8.9% during the third quarter. Opal Wealth Advisors LLC now owns 842 shares of the exchange traded fund’s stock valued at $411,000 after buying an additional 69 shares during the period. Capstone Wealth Management Group LLC lifted its stake in shares of Invesco QQQ by 1.2% during the third quarter. Capstone Wealth Management Group LLC now owns 13,549 shares of the exchange traded fund’s stock valued at $6,613,000 after buying an additional 156 shares during the period. EdgeRock Capital LLC purchased a new position in shares of Invesco QQQ during the third quarter valued at approximately $7,593,000. ERn Financial LLC lifted its stake in shares of Invesco QQQ by 34.6% during the third quarter. ERn Financial LLC now owns 890 shares of the exchange traded fund’s stock valued at $435,000 after buying an additional 229 shares during the period. Finally, Brady Family Wealth LLC raised its stake in Invesco QQQ by 20.7% during the third quarter. Brady Family Wealth LLC now owns 1,167 shares of the exchange traded fund’s stock worth $570,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.3 %

Shares of QQQ opened at $490.85 on Wednesday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The company’s fifty day moving average is $474.82 and its two-hundred day moving average is $464.10.

Invesco QQQ Cuts Dividend

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

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.