Cahill Financial Advisors Inc. Grows Position in Invesco QQQ (NASDAQ:QQQ)

Cahill Financial Advisors Inc. grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,904 shares of the exchange traded fund’s stock after purchasing an additional 45 shares during the quarter. Cahill Financial Advisors Inc.’s holdings in Invesco QQQ were worth $929,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ in the first quarter valued at $28,000. Mechanics Financial Corp acquired a new stake in shares of Invesco QQQ during the 2nd quarter valued at about $30,000. Chelsea Counsel Co. purchased a new position in shares of Invesco QQQ in the 1st quarter valued at about $40,000. CGC Financial Services LLC raised its holdings in Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC boosted its position in 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 purchasing an additional 103 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $505.79 on Friday. The stock’s 50 day moving average is $493.08 and its two-hundred day moving average is $476.93. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was 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.