Physician Wealth Advisors Inc. Increases Stock Position in Invesco QQQ (NASDAQ:QQQ)

Physician Wealth Advisors Inc. lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 4,645 shares of the exchange traded fund’s stock after acquiring an additional 83 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Invesco QQQ were worth $2,280,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of QQQ. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ during the first quarter valued at $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the second quarter valued at $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ in the 1st quarter worth about $40,000. CGC Financial Services LLC boosted its stake in Invesco QQQ by 736.4% in the 2nd 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. boosted its stake in Invesco QQQ by 30.4% in the 1st 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. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $490.91 on Thursday. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two week high of $503.52. The firm has a 50-day simple moving average of $475.94 and a two-hundred day simple moving average of $464.29.

Invesco QQQ Cuts Dividend

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

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.