Signet Investment Advisory Group Inc. Takes Position in Invesco QQQ (NASDAQ:QQQ)

Signet Investment Advisory Group Inc. purchased a new position in Invesco QQQ (NASDAQ:QQQ) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 681 shares of the exchange traded fund’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in shares of Invesco QQQ in the 1st quarter worth approximately $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ during the second quarter worth $30,000. Chelsea Counsel Co. bought a new position in Invesco QQQ during the first quarter worth $40,000. CGC Financial Services LLC increased its stake in 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 last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in 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 last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $495.32 on Friday. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The firm’s 50-day moving average is $480.10 and its 200-day moving average is $466.30.

Invesco QQQ Cuts Dividend

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

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.