Palumbo Wealth Management LLC Acquires 33 Shares of Invesco QQQ (NASDAQ:QQQ)

Palumbo Wealth Management LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQFree Report) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,705 shares of the exchange traded fund’s stock after acquiring an additional 33 shares during the quarter. Invesco QQQ accounts for approximately 2.0% of Palumbo Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding. Palumbo Wealth Management LLC’s holdings in Invesco QQQ were worth $5,225,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in QQQ. Allspring Global Investments Holdings LLC bought a new position in Invesco QQQ in the 1st quarter valued at $39,478,000. WFA Asset Management Corp raised its position in shares of Invesco QQQ by 70.6% in the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after purchasing an additional 1,894 shares during the period. Mainsail Financial Group LLC boosted its holdings in Invesco QQQ by 3.2% in the 1st quarter. Mainsail Financial Group LLC now owns 4,983 shares of the exchange traded fund’s stock worth $2,213,000 after buying an additional 156 shares during the period. Massachusetts Wealth Management lifted its position in shares of Invesco QQQ by 1.5% during the first quarter. Massachusetts Wealth Management now owns 4,314 shares of the exchange traded fund’s stock worth $1,915,000 after acquiring an additional 65 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its holdings in shares of Invesco QQQ by 4.1% in the first quarter. Cornerstone Wealth Management LLC now owns 36,468 shares of the exchange traded fund’s stock worth $16,192,000 after acquiring an additional 1,444 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ traded down $9.62 on Thursday, hitting $486.76. The stock had a trading volume of 7,779,514 shares, compared to its average volume of 38,502,000. The firm has a 50-day moving average of $481.47 and a 200-day moving average of $468.04. Invesco QQQ has a 52-week low of $346.62 and a 52-week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a yield of 0.56%.

Invesco QQQ Profile

(Free Report)

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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Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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