IHT Wealth Management LLC Increases Position in Invesco QQQ (NASDAQ:QQQ)

IHT Wealth Management LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 42.5% in the third quarter, Holdings Channel.com reports. The firm owned 267,180 shares of the exchange traded fund’s stock after buying an additional 79,644 shares during the period. Invesco QQQ comprises approximately 3.7% of IHT Wealth Management LLC’s investment portfolio, making the stock its 2nd biggest holding. IHT Wealth Management LLC’s holdings in Invesco QQQ were worth $129,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Mechanics Financial Corp bought a new stake in Invesco QQQ in the 2nd quarter worth about $30,000. CGC Financial Services LLC boosted its stake in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the last quarter. PFG Private Wealth Management LLC grew its holdings in shares of Invesco QQQ by 572.2% in the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 103 shares in the last quarter. Legacy Bridge LLC grew its holdings in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock valued at $59,000 after acquiring an additional 45 shares in the last quarter. Finally, BNP Paribas purchased a new stake in shares of Invesco QQQ during the third quarter valued at approximately $62,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 0.2 %

QQQ stock traded down $0.78 during midday trading on Tuesday, hitting $514.51. The company’s stock had a trading volume of 2,375,312 shares, compared to its average volume of 37,558,957. The stock’s 50-day moving average price is $496.13 and its 200 day moving average price is $479.38. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $516.26.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was 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.