Cornerstone Advisory LLC bought a new stake in Invesco QQQ Trust (NASDAQ:QQQ) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 2,369 shares of the exchange traded fund’s stock, valued at approximately $441,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Moisand Fitzgerald Tamayo LLC grew its holdings in shares of Invesco QQQ Trust by 2,409.1% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 552 shares of the exchange traded fund’s stock worth $103,000 after purchasing an additional 530 shares during the period. Providence Capital Advisors LLC grew its holdings in shares of Invesco QQQ Trust by 487.4% during the 2nd quarter. Providence Capital Advisors LLC now owns 605 shares of the exchange traded fund’s stock worth $104,000 after purchasing an additional 502 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Invesco QQQ Trust during the 3rd quarter worth about $108,000. Opera Trading Capital purchased a new stake in shares of Invesco QQQ Trust during the 2nd quarter worth about $112,000. Finally, Quad Cities Investment Group LLC purchased a new stake in shares of Invesco QQQ Trust during the 2nd quarter worth about $128,000. Institutional investors own 41.18% of the company’s stock.
Separately, Bank of America cut Invesco QQQ Trust from a “buy” rating to a “neutral” rating in a report on Monday, November 5th.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, September 25th were issued a dividend of $0.3298 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Monday, September 24th.
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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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