McGuire Investment Group LLC Grows Stock Position in Invesco QQQ (NASDAQ:QQQ)

McGuire Investment Group LLC boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,646 shares of the exchange traded fund’s stock after buying an additional 57 shares during the quarter. McGuire Investment Group LLC’s holdings in Invesco QQQ were worth $5,196,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of QQQ. Prospect Financial Services LLC lifted its stake in Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after purchasing an additional 21 shares during the last quarter. Skyline Advisors Inc. grew its position in Invesco QQQ by 5.0% in the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after acquiring an additional 21 shares during the last quarter. Sweeney & Michel LLC increased its stake in Invesco QQQ by 4.0% in the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock worth $286,000 after purchasing an additional 22 shares during the period. Family Firm Inc. lifted its position in shares of Invesco QQQ by 3.1% during the second quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund’s stock worth $354,000 after purchasing an additional 22 shares during the last quarter. Finally, Merriman Wealth Management LLC boosted its stake in shares of Invesco QQQ by 0.5% during the second quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund’s stock valued at $2,420,000 after purchasing an additional 23 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.2 %

QQQ stock traded up $0.77 during trading on Friday, hitting $493.36. The company had a trading volume of 20,644,497 shares, compared to its average volume of 39,311,230. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The company has a 50 day simple moving average of $472.55 and a 200-day simple moving average of $463.27.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued 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 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.