Western Pacific Wealth Management LP Has $604,000 Stock Position in Invesco QQQ (NASDAQ:QQQ)

Western Pacific Wealth Management LP lifted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 420.2% in the third quarter, Holdings Channel reports. The institutional investor owned 1,238 shares of the exchange traded fund’s stock after acquiring an additional 1,000 shares during the period. Invesco QQQ makes up about 0.4% of Western Pacific Wealth Management LP’s portfolio, making the stock its 18th largest position. Western Pacific Wealth Management LP’s holdings in Invesco QQQ were worth $604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of QQQ. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ in the first quarter worth $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the second quarter worth $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ in the first quarter worth $40,000. CGC Financial Services LLC increased its position in shares of Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Invesco QQQ by 30.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 1.6 %

Invesco QQQ stock opened at $513.54 on Friday. Invesco QQQ has a 12-month low of $369.57 and a 12-month high of $514.33. The business’s 50-day moving average price is $483.00 and its two-hundred day moving average price is $470.34.

Invesco QQQ Cuts Dividend

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