Ford Financial Group LLC lifted its stake in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,979 shares of the exchange traded fund’s stock after purchasing an additional 106 shares during the quarter. Invesco QQQ Trust accounts for 2.4% of Ford Financial Group LLC’s holdings, making the stock its 11th biggest holding. Ford Financial Group LLC’s holdings in Invesco QQQ Trust were worth $4,439,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Invesco QQQ Trust by 6.3% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 9,168 shares of the exchange traded fund’s stock valued at $2,547,000 after buying an additional 545 shares in the last quarter. FormulaFolio Investments LLC boosted its stake in Invesco QQQ Trust by 45.3% in the third quarter. FormulaFolio Investments LLC now owns 233,181 shares of the exchange traded fund’s stock valued at $64,787,000 after buying an additional 72,688 shares in the last quarter. D. Scott Neal Inc. boosted its stake in Invesco QQQ Trust by 12.0% in the third quarter. D. Scott Neal Inc. now owns 163,337 shares of the exchange traded fund’s stock valued at $45,382,000 after buying an additional 17,453 shares in the last quarter. Gyroscope Capital Management Group LLC acquired a new stake in Invesco QQQ Trust in the third quarter valued at about $927,000. Finally, Raymond James Trust N.A. boosted its stake in Invesco QQQ Trust by 12.0% in the third quarter. Raymond James Trust N.A. now owns 20,777 shares of the exchange traded fund’s stock valued at $5,773,000 after buying an additional 2,227 shares in the last quarter. 42.99% of the stock is currently owned by institutional investors.
Separately, ValuEngine lowered Invesco QQQ Trust from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd.
NASDAQ:QQQ opened at $288.51 on Friday. The stock’s 50-day simple moving average is $279.70 and its 200 day simple moving average is $249.24. Invesco QQQ Trust has a twelve month low of $164.93 and a twelve month high of $303.50.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 22nd will be paid a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, September 21st.
Invesco QQQ Trust Company 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.
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