WorthPointe LLC Increases Holdings in Invesco QQQ

WorthPointe LLC has increased its stake in Invesco QQQ (NASDAQ:QQQ) by 50.0% during the third quarter, according to their latest report to the Securities & Exchange Commission. After acquiring an additional 1,607 shares, the firm currently holds 4,818 shares of this exchange-traded fund (ETF). As of the end of the most recent quarter, WorthPointe LLC's investment in Invesco QQQ is valued at approximately $2,352,000, making it the firm's 16th largest holding, which represents 1.0% of its overall investment portfolio.

Institutional Activity

Recently, other institutional investors have made adjustments to their holdings of Invesco QQQ as well. New Covenant Trust Company N.A. purchased a new stake in the ETF worth around $28,000 during the first quarter. Similarly, Mechanics Financial Corp acquired a new stake valued at $30,000 in the second quarter. Chelsea Counsel Co. also added a stake worth $40,000 in the first quarter. CGC Financial Services LLC significantly enhanced its position by 736.4% in the second quarter, now owning 92 shares of the ETF valued at $44,000 following the acquisition of 81 additional shares. PFG Private Wealth Management LLC also increased its holdings by 572.2% in the same quarter, bringing its total to 121 shares valued at $58,000 after gaining 103 shares in the last quarter. Overall, 44.58% of Invesco QQQ is owned by institutional investors and hedge funds.

Current Trading Performance

As of Wednesday, shares of QQQ stock opened at $509.31, showing a slight uptick of 0.5%. The ETF has a 50-day moving average of $494.46 and a 200-day average of $478.12. Over the past year, Invesco QQQ has experienced a low of $382.66 and a high of $515.58.

Recent Dividend Announcement

Invesco QQQ recently declared a quarterly dividend, which was distributed on Thursday, October 31st. Shareholders who were on record as of Monday, September 23rd, received a dividend of $0.677 per share. The ex-dividend date was also September 23rd, presenting an annualized dividend of $2.71, leading to a dividend yield of 0.53%.

About Invesco QQQ

PowerShares QQQ Trust, Series 1 is a unit investment trust that offers Nasdaq-100 Index Tracking Stock. It aims to provide results that closely correspond to the price and yield performance of the Nasdaq-100 Index. This trust allows investors to buy units representing proportionate, undivided interests in the securities held in its portfolio, which mainly includes the stocks in the Nasdaq-100 Index.

investment, stocks, ETF