International Assets Investment Management LLC Raises Stake in Invesco QQQ (NASDAQ:QQQ)

International Assets Investment Management LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ) by 46,491.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,586,150 shares of the exchange traded fund’s stock after buying an additional 32,516,210 shares during the period. Invesco QQQ makes up about 2.1% of International Assets Investment Management LLC’s investment portfolio, making the stock its 7th largest position. International Assets Investment Management LLC owned about 5.42% of Invesco QQQ worth $15,904,322,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $28,000. Mechanics Financial Corp bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $30,000. Chelsea Counsel Co. bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $40,000. CGC Financial Services LLC increased its position in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its position in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $488.36 on Thursday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The stock’s 50 day simple moving average is $479.75 and its 200-day simple moving average is $466.12.

Invesco QQQ Cuts Dividend

The business 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 $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, September 23rd.

About Invesco QQQ

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.