Summit Trail Advisors LLC Has $11.15 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Summit Trail Advisors LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 37.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,809 shares of the exchange traded fund’s stock after buying an additional 6,186 shares during the period. Summit Trail Advisors LLC’s holdings in Invesco QQQ were worth $11,148,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of QQQ. International Assets Investment Management LLC raised its stake in Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after buying an additional 32,516,210 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Invesco QQQ by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after acquiring an additional 338,494 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after purchasing an additional 33,790 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Invesco QQQ by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock valued at $1,219,115,000 after purchasing an additional 64,401 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $505.79 on Friday. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58. The company’s 50 day moving average price is $493.08 and its two-hundred day moving average price is $476.93.

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 issued a dividend of $0.677 per share. The ex-dividend date of this dividend 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.