Stone Point Wealth LLC Acquires 250 Shares of Invesco QQQ (NASDAQ:QQQ)

Stone Point Wealth LLC grew its stake in Invesco QQQ (NASDAQ:QQQ) by 18.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,599 shares of the exchange traded fund’s stock after acquiring an additional 250 shares during the period. Stone Point Wealth LLC’s holdings in Invesco QQQ were worth $780,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $28,000. Mechanics Financial Corp bought a new position in shares of Invesco QQQ in the second quarter valued at $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ in the first quarter valued at $40,000. CGC Financial Services LLC grew its stake 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 valued at $44,000 after buying an additional 81 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of 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 buying an additional 24 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $512.39 on Friday. Invesco QQQ has a 1-year low of $369.57 and a 1-year high of $514.33. The firm has a fifty day simple moving average of $483.00 and a 200 day simple moving average of $470.34.

Invesco QQQ Cuts Dividend

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

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.