10,167 Invesco QQQ $QQQ Shares Acquired by True Freedom Investing LLC

Key Points

• True Freedom Investing LLC increased its Invesco QQQ stake by 173.2% in the third quarter, acquiring 10,167 additional shares and bringing its holdings to 16,038 shares valued at approximately $11.9 million.
• Several other institutional investors also expanded their QQQ positions, while institutional investors and hedge funds collectively owned 44.58% of the ETF.
• QQQ opened at $690.49, below its 50-day moving average of $725.00 but above its 200-day average of $679.01. The fund also reduced its quarterly dividend to $0.7514 per share, representing a 0.4% annualized yield.

True Freedom Investing LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 173.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,038 shares of the exchange traded fund's stock after acquiring an additional 10,167 shares during the quarter. Invesco QQQ accounts for 1.8% of True Freedom Investing LLC's investment portfolio, making the stock its 8th largest position. True Freedom Investing LLC's holdings in Invesco QQQ were worth $11,865,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Pinnacle Financial Group LLC IL grew its position in Invesco QQQ by 2.5% in the 3rd quarter. Pinnacle Financial Group LLC IL now owns 2,310 shares of the exchange traded fund's stock valued at $1,709,000 after acquiring an additional 57 shares in the last quarter. Walled Lake Planning & Wealth Management LLC increased its stake in Invesco QQQ by 11.0% during the third quarter. Walled Lake Planning & Wealth Management LLC now owns 2,045 shares of the exchange traded fund's stock worth $1,513,000 after purchasing an additional 202 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in Invesco QQQ by 4.1% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 398,824 shares of the exchange traded fund's stock worth $294,622,000 after purchasing an additional 15,659 shares during the period. Pinkerton Wealth LLC lifted its position in shares of Invesco QQQ by 134.0% during the third quarter. Pinkerton Wealth LLC now owns 13,525 shares of the exchange traded fund's stock worth $10,005,000 after purchasing an additional 7,744 shares in the last quarter. Finally, Virtue Capital Management LLC lifted its position in shares of Invesco QQQ by 64.8% during the third quarter. Virtue Capital Management LLC now owns 44,570 shares of the exchange traded fund's stock worth $32,972,000 after purchasing an additional 17,525 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $690.49 on Monday. The firm has a 50 day simple moving average of $725.00 and a 200-day simple moving average of $679.01. Invesco QQQ has a one year low of $555.60 and a one year high of $762.86.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Monday, September 21st were paid a dividend of $0.7514 per share. This represents a $3.01 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, September 21st. This is a decrease from Invesco QQQ's previous quarterly dividend of $0.8135.

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.

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