Quad Cities Investment Group LLC Has $4.64 Million Holdings in Invesco QQQ (NASDAQ:QQQ)

Quad Cities Investment Group LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 9.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,511 shares of the exchange traded fund’s stock after buying an additional 784 shares during the quarter. Invesco QQQ accounts for about 2.3% of Quad Cities Investment Group LLC’s investment portfolio, making the stock its 9th biggest position. Quad Cities Investment Group LLC’s holdings in Invesco QQQ were worth $4,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. lifted its holdings in Invesco QQQ by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after buying an additional 338,494 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $1,580,776,000. Steel Grove Capital Advisors LLC boosted its holdings in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Invesco QQQ by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after purchasing an additional 33,790 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Up 0.1 %

Shares of QQQ stock opened at $491.25 on Friday. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The stock has a fifty day simple moving average of $476.80 and a two-hundred day simple moving average of $464.48.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.