Peterson Financial Group Inc. Decreases Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Peterson Financial Group Inc. reduced its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 673 shares of the exchange traded fund’s stock after selling 44 shares during the quarter. Invesco QQQ accounts for approximately 1.3% of Peterson Financial Group Inc.’s portfolio, making the stock its 19th largest holding. Peterson Financial Group Inc.’s holdings in Invesco QQQ were worth $328,000 at the end of the most recent reporting period.

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

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $496.57 on Friday. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The business has a 50 day moving average price of $489.33 and a 200 day moving average price of $474.46.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.