Tevis Investment Management Increases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Tevis Investment Management raised its position in Invesco QQQ (NASDAQ:QQQ) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 554 shares of the exchange traded fund’s stock after acquiring an additional 50 shares during the quarter. Tevis Investment Management’s holdings in Invesco QQQ were worth $270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Goldstone Financial Group LLC purchased a new position in Invesco QQQ in the third quarter valued at $26,733,000. Voisard Asset Management Group Inc. raised its position in Invesco QQQ by 180.2% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 241 shares of the exchange traded fund’s stock valued at $118,000 after purchasing an additional 155 shares in the last quarter. S.A. Mason LLC raised its position in Invesco QQQ by 13.4% in the 3rd quarter. S.A. Mason LLC now owns 2,114 shares of the exchange traded fund’s stock valued at $1,032,000 after purchasing an additional 250 shares in the last quarter. Cornerstone Wealth Group LLC boosted its stake in shares of Invesco QQQ by 7.6% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 4,267 shares of the exchange traded fund’s stock valued at $2,083,000 after buying an additional 303 shares during the period. Finally, Fiducient Advisors LLC acquired a new position in shares of Invesco QQQ during the third quarter worth about $286,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $496.38 on Thursday. The company’s 50 day moving average price is $481.47 and its 200 day moving average price is $468.04. Invesco QQQ has a fifty-two week low of $346.62 and a fifty-two week high of $503.52.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be issued a $0.677 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.71 dividend on an annualized basis 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.