Elios Financial Group Inc. Takes Position in Invesco QQQ (NASDAQ:QQQ)

Elios Financial Group Inc. acquired a new position in Invesco QQQ (NASDAQ:QQQ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,140 shares of the exchange traded fund’s stock, valued at approximately $1,533,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. boosted its position in shares of Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the last quarter. Socha Financial Group LLC lifted its stake in Invesco QQQ by 2.4% in the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after buying an additional 2,171 shares during the period. Archer Investment Corp boosted its holdings in Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock worth $21,281,000 after buying an additional 4,025 shares during the last quarter. Bank Hapoalim BM increased its stake in shares of Invesco QQQ by 5.5% in the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock valued at $59,250,000 after acquiring an additional 6,347 shares during the last quarter. Finally, Arrow Financial Corp raised its position in shares of Invesco QQQ by 7.2% in the 3rd quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock valued at $68,997,000 after acquiring an additional 9,516 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $506.59 on Tuesday. The firm has a 50 day moving average price of $493.75 and a 200 day moving average price of $477.65. Invesco QQQ has a 52-week low of $382.66 and a 52-week high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

Invesco QQQ Profile

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.