Gries Financial LLC Has $6.58 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Gries Financial LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 59.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,478 shares of the exchange traded fund’s stock after purchasing an additional 5,010 shares during the period. Invesco QQQ comprises 1.2% of Gries Financial LLC’s holdings, making the stock its 12th largest holding. Gries Financial LLC’s holdings in Invesco QQQ were worth $6,578,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in QQQ. Atwater Malick LLC bought a new position in Invesco QQQ in the 1st quarter valued at about $293,000. Westwood Holdings Group Inc. raised its position in Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after purchasing an additional 1,993 shares in the last quarter. Socha Financial Group LLC raised its position in Invesco QQQ by 1.3% during the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after purchasing an additional 1,153 shares in the last quarter. SVB Wealth LLC lifted its stake in Invesco QQQ by 15.2% during the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after purchasing an additional 2,453 shares during the last quarter. Finally, WFA Asset Management Corp boosted its holdings in shares of Invesco QQQ by 70.6% in the 1st quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock valued at $2,032,000 after purchasing an additional 1,894 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Trading Up 0.7 %

Shares of QQQ opened at $494.47 on Friday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The business’s fifty day moving average is $477.68 and its 200-day moving average is $464.99.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

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.