Pettinga Financial Advisors LLC Acquires 1,018 Shares of Invesco QQQ $QQQ

Pettinga Financial Advisors LLC grew its position in Invesco QQQ (NASDAQ:QQQ) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,661 shares of the exchange traded fund’s stock after acquiring an additional 1,018 shares during the quarter. Invesco QQQ comprises about 1.7% of Pettinga Financial Advisors LLC’s portfolio, making the stock its 20th largest position. Pettinga Financial Advisors LLC’s holdings in Invesco QQQ were worth $7,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QQQ. Kingstone Capital Partners Texas LLC increased its stake in Invesco QQQ by 704,593.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock worth $37,299,340,000 after buying an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. increased its stake in Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new position in Invesco QQQ in the 1st quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. increased its stake in Invesco QQQ by 1.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock worth $1,501,063,000 after buying an additional 52,234 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in Invesco QQQ by 2.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock worth $1,163,036,000 after buying an additional 54,944 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.7%

QQQ stock opened at $602.22 on Thursday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18. The firm’s 50-day moving average is $586.10 and its 200 day moving average is $538.48.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

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.