Wescott Financial Advisory Group LLC Buys 4,310 Shares of Invesco QQQ (NASDAQ:QQQ)

Wescott Financial Advisory Group LLC grew its stake in Invesco QQQ (NASDAQ:QQQ) by 3.1% during the third quarter, HoldingsChannel reports. The firm owned 144,244 shares of the exchange traded fund’s stock after buying an additional 4,310 shares during the quarter. Invesco QQQ accounts for about 7.6% of Wescott Financial Advisory Group LLC’s investment portfolio, making the stock its 2nd largest holding. Wescott Financial Advisory Group LLC’s holdings in Invesco QQQ were worth $70,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. PBCay One RSC Ltd boosted its position in Invesco QQQ by 6.2% during the 1st quarter. PBCay One RSC Ltd now owns 375,000 shares of the exchange traded fund’s stock worth $166,504,000 after buying an additional 22,000 shares during the period. Russell Investments Group Ltd. boosted its position in Invesco QQQ by 140.6% during the 1st quarter. Russell Investments Group Ltd. now owns 243 shares of the exchange traded fund’s stock worth $108,000 after buying an additional 142 shares during the period. Vanguard Group Inc. boosted its position in Invesco QQQ by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 17,520 shares of the exchange traded fund’s stock worth $7,779,000 after buying an additional 832 shares during the period. SVB Wealth LLC boosted its position in Invesco QQQ by 15.2% during the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after buying an additional 2,453 shares during the period. Finally, Ascent Group LLC boosted its position in Invesco QQQ by 33.6% during the 1st quarter. Ascent Group LLC now owns 1,585 shares of the exchange traded fund’s stock worth $704,000 after buying an additional 399 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.2 %

NASDAQ:QQQ opened at $505.79 on Friday. The firm’s 50 day simple moving average is $493.08 and its 200 day simple moving average is $476.93. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%.

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.