Mattern Wealth Management LLC Invests $14.23 Million in Invesco QQQ (NASDAQ:QQQ)

Mattern Wealth Management LLC purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 29,154 shares of the exchange traded fund’s stock, valued at approximately $14,229,000. Invesco QQQ accounts for approximately 3.1% of Mattern Wealth Management LLC’s investment portfolio, making the stock its 9th largest position.

Other hedge funds have also recently made changes to their positions in the company. Sky Investment Group LLC purchased a new stake in Invesco QQQ during the third quarter valued at $248,000. Surience Private Wealth LLC grew its holdings in Invesco QQQ by 132.7% during the 3rd quarter. Surience Private Wealth LLC now owns 25,711 shares of the exchange traded fund’s stock worth $12,549,000 after acquiring an additional 14,660 shares in the last quarter. Home Federal Bank of Tennessee boosted its holdings in shares of Invesco QQQ by 7.7% in the 3rd quarter. Home Federal Bank of Tennessee now owns 5,051 shares of the exchange traded fund’s stock valued at $2,465,000 after buying an additional 361 shares in the last quarter. Calton & Associates Inc. boosted its holdings in shares of Invesco QQQ by 14.9% in the 3rd quarter. Calton & Associates Inc. now owns 28,895 shares of the exchange traded fund’s stock valued at $14,103,000 after buying an additional 3,752 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its stake in Invesco QQQ by 90.2% in the 3rd quarter. Oakworth Capital Inc. now owns 3,090 shares of the exchange traded fund’s stock worth $1,508,000 after purchasing an additional 1,465 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ traded down $0.91 during trading on Tuesday, reaching $494.51. 11,025,026 shares of the company’s stock were exchanged, compared to its average volume of 38,833,828. The company’s fifty day simple moving average is $478.57 and its 200-day simple moving average is $465.57. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid 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 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.