Mill Creek Capital Advisors LLC Grows Stake in Invesco QQQ (NASDAQ:QQQ)

Mill Creek Capital Advisors LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,274 shares of the exchange traded fund’s stock after acquiring an additional 112 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Invesco QQQ were worth $4,526,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of QQQ. International Assets Investment Management LLC raised its stake in shares of Invesco QQQ by 46,491.6% in the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after buying an additional 32,516,210 shares during the period. Ameriprise Financial Inc. raised its stake in Invesco QQQ by 7.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock valued at $2,379,676,000 after acquiring an additional 338,494 shares during the period. Steel Grove Capital Advisors LLC lifted its holdings in Invesco QQQ by 934.0% during the first 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. Northwestern Mutual Wealth Management Co. boosted its position in Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock worth $1,532,904,000 after purchasing an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC increased its stake in shares of Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $496.57 on Friday. The company’s 50 day moving average is $489.33 and its 200-day moving average is $474.46. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58.

Invesco QQQ Cuts Dividend

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

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.