Encompass More Asset Management Takes Position in Invesco QQQ (NASDAQ:QQQ)

Encompass More Asset Management purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 931 shares of the exchange traded fund’s stock, valued at approximately $454,000.

A number of other hedge funds have also recently made changes to their positions in the company. Mechanics Financial Corp bought a new position in shares of Invesco QQQ during the second quarter worth about $30,000. CGC Financial Services LLC raised its position 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 acquiring an additional 81 shares during the last quarter. PFG Private Wealth Management LLC raised its position in shares of Invesco QQQ by 572.2% during the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 103 shares during the last quarter. Legacy Bridge LLC raised its position in shares of Invesco QQQ by 60.0% during the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after acquiring an additional 45 shares during the last quarter. Finally, BNP Paribas bought a new position in shares of Invesco QQQ during the third quarter worth about $62,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ opened at $509.74 on Friday. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The business has a 50-day moving average of $496.13 and a 200-day moving average of $478.96.

Invesco QQQ Cuts Dividend

The business also recently disclosed 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%.

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.