Weitzel Financial Services Inc. Grows Position in Invesco QQQ (NASDAQ:QQQ)

Weitzel Financial Services Inc. raised its position in shares of Invesco QQQ (NASDAQ:QQQ) by 10.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,128 shares of the exchange traded fund’s stock after purchasing an additional 926 shares during the quarter. Invesco QQQ comprises about 2.3% of Weitzel Financial Services Inc.’s investment portfolio, making the stock its 12th biggest holding. Weitzel Financial Services Inc.’s holdings in Invesco QQQ were worth $4,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in QQQ. New Covenant Trust Company N.A. purchased a new stake in Invesco QQQ in the first quarter worth $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ during the second quarter valued at $30,000. Chelsea Counsel Co. purchased a new stake in shares of Invesco QQQ during the first quarter valued at $40,000. CGC Financial Services LLC boosted its stake in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $505.58 on Thursday. Invesco QQQ has a 12-month low of $369.05 and a 12-month high of $506.41. The firm has a fifty day moving average price of $483.00 and a 200-day moving average price of $470.34.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.54%. 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.