Hutchens & Kramer Investment Management Group LLC Raises Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Hutchens & Kramer Investment Management Group LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,678 shares of the exchange traded fund’s stock after acquiring an additional 86 shares during the quarter. Invesco QQQ makes up approximately 1.0% of Hutchens & Kramer Investment Management Group LLC’s holdings, making the stock its 25th biggest position. Hutchens & Kramer Investment Management Group LLC’s holdings in Invesco QQQ were worth $1,770,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QQQ. Global Assets Advisory LLC bought a new position in shares of Invesco QQQ during the first quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC boosted its holdings in shares of Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock valued at $1,525,067,000 after purchasing an additional 3,102,568 shares during the last quarter. Strategic Financial Concepts LLC grew its position in shares of Invesco QQQ by 18,691.3% during the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC grew its holdings in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after buying an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new stake in Invesco QQQ in the 1st quarter worth approximately $304,591,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 1.3 %

Shares of QQQ opened at $490.85 on Wednesday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The business’s 50 day simple moving average is $474.82 and its 200-day simple moving average is $464.10.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is 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.