Wescott Financial Advisory Group LLC Grows Position in Invesco QQQ (NASDAQ:QQQ)

Wescott Financial Advisory Group LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 144,244 shares of the exchange traded fund’s stock after acquiring an additional 4,310 shares during the quarter. Invesco QQQ comprises about 7.6% of Wescott Financial Advisory Group LLC’s investment portfolio, making the stock its 2nd largest holding. Wescott Financial Advisory Group LLC’s holdings in Invesco QQQ were worth $70,401,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in Invesco QQQ during the first quarter worth about $28,000. Mechanics Financial Corp bought a new position in Invesco QQQ in the 2nd quarter valued at about $30,000. Chelsea Counsel Co. bought a new position in Invesco QQQ in the 1st quarter valued at about $40,000. CGC Financial Services LLC increased its holdings in Invesco QQQ by 736.4% in the 2nd 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 during the period. Finally, PFG Private Wealth Management LLC increased its holdings in Invesco QQQ by 572.2% in the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 103 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

QQQ stock opened at $505.79 on Friday. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58. The company’s 50-day moving average price is $493.08 and its two-hundred day moving average price is $476.93.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.54%. The ex-dividend date 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.