Edge Financial Advisors LLC Invests $2.22 Million in Invesco QQQ (NASDAQ:QQQ)

Edge Financial Advisors LLC purchased a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,539 shares of the exchange traded fund’s stock, valued at approximately $2,215,000. Invesco QQQ comprises 2.0% of Edge Financial Advisors LLC’s investment portfolio, making the stock its 16th biggest holding.

Other large investors have also modified their holdings of the company. Westwood Holdings Group Inc. raised its stake in shares of Invesco QQQ by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after purchasing an additional 1,993 shares during the last quarter. Socha Financial Group LLC grew its holdings in Invesco QQQ by 1.3% during the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock worth $39,494,000 after acquiring an additional 1,153 shares during the period. SVB Wealth LLC grew its holdings in Invesco QQQ by 15.2% during the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock worth $8,240,000 after acquiring an additional 2,453 shares during the period. WFA Asset Management Corp grew its holdings in Invesco QQQ by 70.6% during the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after acquiring an additional 1,894 shares during the period. Finally, Daymark Wealth Partners LLC grew its holdings in Invesco QQQ by 30.4% during the second quarter. Daymark Wealth Partners LLC now owns 17,239 shares of the exchange traded fund’s stock worth $8,259,000 after acquiring an additional 4,015 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.5 %

QQQ stock traded down $2.57 on Wednesday, reaching $497.59. 3,993,428 shares of the company’s stock were exchanged, compared to its average volume of 38,525,621. The stock has a fifty day moving average of $481.19 and a 200-day moving average of $467.84. Invesco QQQ has a twelve month low of $346.62 and a twelve month high of $503.52.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be issued 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 is 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.