Peterson Wealth Management Has $13.95 Million Position in Invesco QQQ (NASDAQ:QQQ)

Peterson Wealth Management increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,587 shares of the exchange traded fund’s stock after purchasing an additional 1,638 shares during the period. Invesco QQQ makes up 8.8% of Peterson Wealth Management’s investment portfolio, making the stock its 2nd biggest holding. Peterson Wealth Management’s holdings in Invesco QQQ were worth $13,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Invesco QQQ in the third quarter valued at about $747,000. Financial Counselors Inc. grew its position in Invesco QQQ by 4.1% during the third quarter. Financial Counselors Inc. now owns 10,300 shares of the exchange traded fund’s stock worth $5,027,000 after buying an additional 410 shares in the last quarter. Fiduciary Trust Co grew its position in Invesco QQQ by 4.4% during the third quarter. Fiduciary Trust Co now owns 5,508 shares of the exchange traded fund’s stock worth $2,688,000 after buying an additional 230 shares in the last quarter. National Wealth Management Group LLC grew its position in Invesco QQQ by 9.6% during the third quarter. National Wealth Management Group LLC now owns 10,546 shares of the exchange traded fund’s stock worth $5,147,000 after buying an additional 922 shares in the last quarter. Finally, First Commonwealth Financial Corp PA grew its position in Invesco QQQ by 4.6% during the third quarter. First Commonwealth Financial Corp PA now owns 3,402 shares of the exchange traded fund’s stock worth $1,660,000 after buying an additional 151 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

QQQ stock opened at $505.30 on Friday. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58. The business’s 50-day simple moving average is $495.58 and its 200 day simple moving average is $478.50.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Monday, September 23rd.

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.