Balboa Wealth Partners Makes New Investment in Invesco QQQ (NASDAQ:QQQ)

Balboa Wealth Partners acquired a new stake in Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 12,813 shares of the exchange traded fund’s stock, valued at approximately $6,254,000. Invesco QQQ accounts for 1.6% of Balboa Wealth Partners’ investment portfolio, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of QQQ. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the 1st quarter valued at about $28,000. Mechanics Financial Corp acquired a new position in shares of Invesco QQQ in the 2nd quarter valued at approximately $30,000. Chelsea Counsel Co. bought a new position in Invesco QQQ during the 1st quarter worth $40,000. CGC Financial Services LLC boosted its stake in Invesco QQQ by 736.4% in the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after buying an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC raised its position in shares of Invesco QQQ by 572.2% during the second quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 103 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.7 %

QQQ opened at $508.69 on Friday. The business has a 50 day simple moving average of $487.42 and a two-hundred day simple moving average of $473.42. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58.

Invesco QQQ Cuts Dividend

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

Invesco QQQ 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.