Smith Salley Wealth Management Has $1.39 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Smith Salley Wealth Management grew its stake in Invesco QQQ (NASDAQ:QQQ) by 28.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,843 shares of the exchange traded fund’s stock after purchasing an additional 637 shares during the quarter. Smith Salley Wealth Management’s holdings in Invesco QQQ were worth $1,388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Invesco QQQ by 46,491.6% during the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after buying an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Invesco QQQ by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after acquiring an additional 338,494 shares during the last quarter. Steel Grove Capital Advisors LLC boosted its stake in Invesco QQQ by 934.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after acquiring an additional 3,102,568 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Invesco QQQ by 1.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after purchasing an additional 33,790 shares during the period. Finally, Strategic Financial Concepts LLC increased its stake in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after purchasing an additional 2,762,571 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $495.32 on Friday. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52. The company’s fifty day moving average is $480.51 and its 200-day moving average is $466.85.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.55%.

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.