Element Wealth LLC Increases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Element Wealth LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 57.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,940 shares of the exchange traded fund’s stock after buying an additional 1,440 shares during the quarter. Invesco QQQ makes up 1.0% of Element Wealth LLC’s investment portfolio, making the stock its 22nd largest holding. Element Wealth LLC’s holdings in Invesco QQQ were worth $1,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in QQQ. International Assets Investment Management LLC grew its position in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Invesco QQQ by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after buying an additional 338,494 shares in the last quarter. Steel Grove Capital Advisors LLC lifted 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 worth $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 valued at $1,532,904,000 after acquiring an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC grew its stake in Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $492.32 on Friday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The company has a fifty day moving average price of $479.75 and a 200-day moving average price of $466.12.

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 paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend 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.