Patrick M Sweeney & Associates Inc. Grows Stake in Invesco QQQ (NASDAQ:QQQ)

Patrick M Sweeney & Associates Inc. boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 3.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,930 shares of the exchange traded fund’s stock after buying an additional 117 shares during the quarter. Invesco QQQ comprises approximately 1.4% of Patrick M Sweeney & Associates Inc.’s portfolio, making the stock its 16th biggest holding. Patrick M Sweeney & Associates Inc.’s holdings in Invesco QQQ were worth $1,918,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of QQQ. Atwater Malick LLC acquired a new stake in shares of Invesco QQQ in the first quarter valued at about $293,000. Westwood Holdings Group Inc. raised its holdings in 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 valued at $7,173,000 after acquiring an additional 1,993 shares during the last quarter. Socha Financial Group LLC lifted its stake in Invesco QQQ by 1.3% in the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after purchasing an additional 1,153 shares in the last quarter. SVB Wealth LLC lifted its stake in Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after purchasing an additional 2,453 shares in the last quarter. Finally, WFA Asset Management Corp boosted its holdings in shares of Invesco QQQ by 70.6% during the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after purchasing an additional 1,894 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.5 %

NASDAQ:QQQ opened at $488.36 on Thursday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The stock has a 50 day moving average price of $479.75 and a 200 day moving average price of $466.12.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is 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.