Stone Point Wealth LLC Has $780,000 Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Stone Point Wealth LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 18.5% in the third quarter, Holdings Channel reports. The institutional investor owned 1,599 shares of the exchange traded fund’s stock after acquiring an additional 250 shares during the period. Stone Point Wealth LLC’s holdings in Invesco QQQ were worth $780,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the first quarter worth $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ during the second quarter worth $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC lifted its holdings in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.2 %

QQQ stock opened at $512.39 on Friday. The business has a 50-day simple moving average of $483.00 and a 200 day simple moving average of $470.34. Invesco QQQ has a 52 week low of $369.57 and a 52 week high of $514.33.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was 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.