JB Capital LLC Purchases 518 Shares of Invesco QQQ (NASDAQ:QQQ)

JB Capital LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,088 shares of the exchange traded fund’s stock after purchasing an additional 518 shares during the period. Invesco QQQ accounts for about 0.8% of JB Capital LLC’s holdings, making the stock its 22nd biggest position. JB Capital LLC’s holdings in Invesco QQQ were worth $13,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the 1st quarter worth about $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ in the second quarter valued at about $30,000. Chelsea Counsel Co. purchased a new position in Invesco QQQ in the first quarter valued at about $40,000. CGC Financial Services LLC grew its position in shares of Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $5.42 during trading on Thursday, hitting $511.00. The stock had a trading volume of 6,306,776 shares, compared to its average volume of 38,370,730. The stock’s 50 day moving average is $483.00 and its two-hundred day moving average is $470.34. Invesco QQQ has a 1 year low of $369.57 and a 1 year high of $511.28.

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 dividend of $0.677 per share. 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 0.53%.

Invesco QQQ Profile

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.