PFG Advisors increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,721 shares of the exchange traded fund's stock after buying an additional 2,879 shares during the period. Invesco QQQ comprises approximately 2.6% of PFG Advisors' portfolio, making the stock its 2nd largest position. PFG Advisors' holdings in Invesco QQQ were worth $40,862,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Prospect Financial Services LLC boosted its position in shares of Invesco QQQ by 0.3% during the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund's stock worth $3,059,000 after purchasing an additional 21 shares in the last quarter. Skyline Advisors Inc. increased its position in Invesco QQQ by 5.0% in the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund's stock valued at $215,000 after buying an additional 21 shares in the last quarter. Sweeney & Michel LLC boosted its holdings in Invesco QQQ by 4.0% in the second quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund's stock worth $286,000 after acquiring an additional 22 shares in the last quarter. Family Firm Inc. boosted its holdings in Invesco QQQ by 3.1% in the second quarter. Family Firm Inc. now owns 738 shares of the exchange traded fund's stock worth $354,000 after acquiring an additional 22 shares in the last quarter. Finally, Merriman Wealth Management LLC grew its stake in Invesco QQQ by 0.5% in the second quarter. Merriman Wealth Management LLC now owns 5,044 shares of the exchange traded fund's stock valued at $2,420,000 after acquiring an additional 23 shares during the period. 44.58% of the stock is owned by institutional investors.
Shares of NASDAQ:QQQ opened at $490.85 on Wednesday. The stock's 50 day moving average is $474.82 and its 200-day moving average is $464.10. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52.
The firm also recently disclosed 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. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Monday, September 23rd.
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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