MTM Investment Management LLC Grows Position in Invesco QQQ (NASDAQ:QQQ)

MTM Investment Management LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 7.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,159 shares of the exchange traded fund’s stock after acquiring an additional 84 shares during the quarter. MTM Investment Management LLC’s holdings in Invesco QQQ were worth $565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in QQQ. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ during the 1st quarter worth $28,000. Mechanics Financial Corp purchased a new position in Invesco QQQ during the second quarter worth about $30,000. Chelsea Counsel Co. purchased a new position in Invesco QQQ during the first quarter worth about $40,000. CGC Financial Services LLC boosted its stake 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 buying an additional 81 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its holdings in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.7 %

NASDAQ QQQ opened at $503.46 on Wednesday. The company has a 50-day moving average of $491.14 and a 200-day moving average of $475.83. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%.

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.