Atom Investors LP Grows Position in Invesco QQQ (NASDAQ:QQQ)

Atom Investors LP grew its stake in Invesco QQQ (NASDAQ:QQQ) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,717 shares of the exchange traded fund’s stock after buying an additional 237 shares during the period. Atom Investors LP’s holdings in Invesco QQQ were worth $3,766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mechanics Financial Corp purchased a new stake in Invesco QQQ in the second quarter valued at approximately $30,000. CGC Financial Services LLC lifted its stake in Invesco QQQ by 736.4% during the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares during the period. PFG Private Wealth Management LLC boosted its holdings in shares of Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 103 shares during the last quarter. Legacy Bridge LLC increased its stake in shares of Invesco QQQ by 60.0% in the third quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after acquiring an additional 45 shares during the period. Finally, BNP Paribas purchased a new position in shares of Invesco QQQ during the third quarter worth $62,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $509.74 on Monday. The stock’s 50 day simple moving average is $496.13 and its two-hundred day simple moving average is $479.38. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.53%.

Invesco QQQ 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.