Commonwealth Equity Services LLC boosted its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,373,787 shares of the exchange traded fund’s stock after purchasing an additional 27,800 shares during the quarter. Invesco QQQ Trust comprises 1.2% of Commonwealth Equity Services LLC’s portfolio, making the stock its 10th biggest holding. Commonwealth Equity Services LLC’s holdings in Invesco QQQ Trust were worth $255,235,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of QQQ. Merriman Wealth Management LLC raised its stake in Invesco QQQ Trust by 105.3% during the third quarter. Merriman Wealth Management LLC now owns 81,596 shares of the exchange traded fund’s stock worth $15,160,000 after purchasing an additional 41,844 shares during the period. Dimension Capital Management LLC raised its stake in Invesco QQQ Trust by 46.7% during the third quarter. Dimension Capital Management LLC now owns 1,886 shares of the exchange traded fund’s stock worth $350,000 after purchasing an additional 600 shares during the period. Mint Tower Capital Management B.V. purchased a new position in Invesco QQQ Trust during the third quarter worth approximately $8,892,000. Starfire Investment Advisers Inc. raised its stake in Invesco QQQ Trust by 2.0% during the third quarter. Starfire Investment Advisers Inc. now owns 61,402 shares of the exchange traded fund’s stock worth $11,407,000 after purchasing an additional 1,224 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management raised its stake in Invesco QQQ Trust by 28.7% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 16,381 shares of the exchange traded fund’s stock worth $3,049,000 after purchasing an additional 3,653 shares during the period. Institutional investors own 39.07% of the company’s stock.
NASDAQ:QQQ opened at $171.52 on Friday. Invesco QQQ Trust has a fifty-two week low of $150.13 and a fifty-two week high of $187.53.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Tuesday, September 25th were paid a dividend of $0.3298 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Monday, September 24th.
Separately, Bank of America downgraded shares of Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a research note on Monday, November 5th.
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About Invesco QQQ Trust
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.
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