Foundations Investment Advisors LLC Raises Stake in Invesco QQQ (NASDAQ:QQQ)

Foundations Investment Advisors LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 16.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 165,556 shares of the exchange traded fund’s stock after buying an additional 23,329 shares during the period. Invesco QQQ accounts for approximately 1.7% of Foundations Investment Advisors LLC’s portfolio, making the stock its 12th largest position. Foundations Investment Advisors LLC’s holdings in Invesco QQQ were worth $80,803,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Atwater Malick LLC purchased a new position in Invesco QQQ in the 1st quarter valued at $293,000. Westwood Holdings Group Inc. lifted its stake in shares of Invesco QQQ by 14.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after acquiring an additional 1,993 shares during the period. Socha Financial Group LLC boosted its holdings in shares of Invesco QQQ by 1.3% in the first quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after acquiring an additional 1,153 shares in the last quarter. SVB Wealth LLC boosted its holdings in shares of Invesco QQQ by 15.2% in the first quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after acquiring an additional 2,453 shares in the last quarter. Finally, WFA Asset Management Corp increased its stake in shares of Invesco QQQ by 70.6% during the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after acquiring an additional 1,894 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $495.42 on Tuesday. Invesco QQQ has a 52 week low of $342.35 and a 52 week high of $503.52. The company has a 50-day moving average price of $478.57 and a 200 day moving average price of $465.57.

Invesco QQQ Cuts Dividend

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