Adamsbrown Wealth Consultants LLC Purchases 716 Shares of Invesco QQQ (NASDAQ:QQQ)

Adamsbrown Wealth Consultants LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 15.7% in the third quarter, Holdings Channel reports. The firm owned 5,266 shares of the exchange traded fund’s stock after buying an additional 716 shares during the period. Invesco QQQ comprises about 0.9% of Adamsbrown Wealth Consultants LLC’s portfolio, making the stock its 16th largest position. Adamsbrown Wealth Consultants LLC’s holdings in Invesco QQQ were worth $2,570,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ in the 1st quarter worth about $28,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the first quarter worth about $29,000. Mechanics Financial Corp acquired a new position in Invesco QQQ during the second quarter worth about $30,000. Voisard Asset Management Group Inc. purchased a new stake in Invesco QQQ during the 4th quarter valued at about $35,000. Finally, Chelsea Counsel Co. acquired a new stake in Invesco QQQ in the 1st quarter valued at about $40,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of QQQ stock traded up $4.58 during trading hours on Monday, reaching $497.94. The company had a trading volume of 3,602,557 shares, compared to its average volume of 39,131,285. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The stock has a fifty day moving average of $472.55 and a 200-day moving average of $463.40.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, September 23rd.

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.