Cornerstone Wealth Group LLC Has $2.08 Million Position in Invesco QQQ (NASDAQ:QQQ)

Cornerstone Wealth Group LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,267 shares of the exchange traded fund’s stock after purchasing an additional 303 shares during the period. Cornerstone Wealth Group LLC’s holdings in Invesco QQQ were worth $2,083,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the first quarter valued at about $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ in the second quarter valued at about $30,000. Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ in the first quarter valued at about $40,000. CGC Financial Services LLC lifted its position in Invesco QQQ by 736.4% during the second 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, CarsonAllaria Wealth Management Ltd. lifted its position in Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 24 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.8 %

QQQ opened at $496.38 on Thursday. Invesco QQQ has a twelve month low of $346.62 and a twelve month high of $503.52. The company has a 50-day simple moving average of $481.47 and a 200 day simple moving average of $468.04.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a 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.