Gerber LLC Acquires 196 Shares of Invesco QQQ (NASDAQ:QQQ)

Gerber LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.8% in the third quarter, HoldingsChannel reports. The firm owned 24,891 shares of the exchange traded fund’s stock after purchasing an additional 196 shares during the period. Invesco QQQ comprises about 8.9% of Gerber LLC’s portfolio, making the stock its 3rd largest holding. Gerber LLC’s holdings in Invesco QQQ were worth $12,148,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $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 boosted its holdings in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after buying an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. grew its position 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 valued at $46,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ stock traded up $0.14 during midday trading on Monday, reaching $494.61. The company had a trading volume of 18,007,354 shares, compared to its average volume of 38,910,277. The stock has a 50 day moving average price of $477.68 and a 200 day moving average price of $465.15. Invesco QQQ has a fifty-two week low of $342.35 and a fifty-two 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. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.