Encompass More Asset Management Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Encompass More Asset Management acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 931 shares of the exchange traded fund’s stock, valued at approximately $454,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northeast Investment Management grew its holdings in shares of Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock worth $1,697,000 after purchasing an additional 20 shares in the last quarter. Planning Capital Management Corp boosted its stake in Invesco QQQ by 7.1% in the third quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock valued at $146,000 after buying an additional 20 shares in the last quarter. Prospect Financial Services LLC boosted its stake in Invesco QQQ by 0.3% in the second quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after buying an additional 21 shares in the last quarter. Skyline Advisors Inc. boosted its stake in Invesco QQQ by 5.0% in the third quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after buying an additional 21 shares in the last quarter. Finally, Madden Advisory Services Inc. boosted its stake in Invesco QQQ by 0.9% in the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after buying an additional 21 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Up 0.9 %

NASDAQ:QQQ opened at $509.74 on Friday. The stock’s 50-day simple moving average is $496.13 and its 200 day simple moving average is $478.96. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a $0.677 dividend. 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.