Rakuten Securities Inc. Purchases 1,409 Shares of Invesco QQQ (NASDAQ:QQQ)

Rakuten Securities Inc. boosted its position in Invesco QQQ (NASDAQ:QQQ) by 34.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,491 shares of the exchange traded fund’s stock after buying an additional 1,409 shares during the quarter. Invesco QQQ comprises 1.2% of Rakuten Securities Inc.’s investment portfolio, making the stock its 14th largest holding. Rakuten Securities Inc.’s holdings in Invesco QQQ were worth $2,680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Apollon Financial LLC grew its holdings in Invesco QQQ by 0.4% during the 3rd quarter. Apollon Financial LLC now owns 6,096 shares of the exchange traded fund’s stock worth $2,975,000 after acquiring an additional 25 shares during the period. WealthPlan Investment Management LLC lifted its stake in shares of Invesco QQQ by 1,040.1% in the 3rd quarter. WealthPlan Investment Management LLC now owns 11,150 shares of the exchange traded fund’s stock valued at $5,442,000 after purchasing an additional 10,172 shares during the period. First National Trust Co boosted its position in shares of Invesco QQQ by 1.2% in the 3rd quarter. First National Trust Co now owns 7,005 shares of the exchange traded fund’s stock worth $3,419,000 after purchasing an additional 86 shares during the last quarter. Fountainhead AM LLC grew its stake in shares of Invesco QQQ by 62.5% during the third quarter. Fountainhead AM LLC now owns 3,336 shares of the exchange traded fund’s stock worth $1,628,000 after purchasing an additional 1,283 shares during the period. Finally, Opinicus Capital Inc. lifted its stake in Invesco QQQ by 0.7% in the third quarter. Opinicus Capital Inc. now owns 7,773 shares of the exchange traded fund’s stock valued at $3,794,000 after buying an additional 51 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $513.84 on Tuesday. The business has a 50-day moving average of $485.37 and a 200-day moving average of $472.57. Invesco QQQ has a 1 year low of $375.24 and a 1 year high of $515.58.

Invesco QQQ Cuts Dividend

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

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.