Peak Asset Management LLC Increases Position in Invesco QQQ (NASDAQ:QQQ)

Peak Asset Management LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 5.1% in the third quarter, Holdings Channel reports. The institutional investor owned 17,594 shares of the exchange traded fund’s stock after purchasing an additional 850 shares during the period. Invesco QQQ accounts for approximately 1.6% of Peak Asset Management LLC’s portfolio, making the stock its 24th biggest position. Peak Asset Management LLC’s holdings in Invesco QQQ were worth $8,587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. International Assets Investment Management LLC raised its stake in Invesco QQQ by 46,491.6% during the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after buying an additional 32,516,210 shares during the last quarter. Steel Grove Capital Advisors LLC increased its position in Invesco QQQ by 934.0% in the first 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 buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of 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 worth $13,307,000 after buying an additional 2,762,571 shares during the period. Granite Bay Wealth Management LLC lifted its position in shares of Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after buying an additional 894,532 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new position in shares of Invesco QQQ in the first quarter worth approximately $304,591,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.1 %

Shares of QQQ stock opened at $512.25 on Thursday. The stock’s 50-day moving average price is $486.39 and its 200-day moving average price is $473.15. Invesco QQQ has a 12-month low of $382.66 and a 12-month high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. The ex-dividend date of this dividend 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.