Novak & Powell Financial Services Inc. Buys 4,390 Shares of Invesco QQQ $QQQ

Novak & Powell Financial Services Inc. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQFree Report) by 28.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,770 shares of the exchange traded fund’s stock after acquiring an additional 4,390 shares during the quarter. Invesco QQQ makes up approximately 6.2% of Novak & Powell Financial Services Inc.’s holdings, making the stock its 2nd biggest holding. Novak & Powell Financial Services Inc.’s holdings in Invesco QQQ were worth $11,870,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Fifth Third Securities Inc. raised its position in shares of Invesco QQQ by 2.6% during the 3rd quarter. Fifth Third Securities Inc. now owns 109,863 shares of the exchange traded fund’s stock valued at $65,959,000 after acquiring an additional 2,822 shares during the last quarter. SK Wealth Management LLC bought a new position in shares of Invesco QQQ in the 3rd quarter worth $803,000. Great Point Wealth Advisors LLC acquired a new stake in shares of Invesco QQQ during the third quarter worth $507,000. Strengthening Families & Communities LLC bought a new stake in Invesco QQQ in the third quarter valued at about $10,771,000. Finally, Coyle Financial Counsel LLC increased its holdings in Invesco QQQ by 4.9% in the third quarter. Coyle Financial Counsel LLC now owns 43,458 shares of the exchange traded fund’s stock valued at $26,091,000 after purchasing an additional 2,035 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $600.38 on Tuesday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $637.01. The business’s 50-day moving average price is $612.91 and its two-hundred day moving average price is $609.09.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a dividend of $0.7941 per share. This represents a $3.18 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.69.

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Invesco QQQ Profile

(Free Report)

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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Institutional Ownership by Quarter for Invesco QQQ (NASDAQ:QQQ)

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