763 Shares in Invesco QQQ (NASDAQ:QQQ) Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 763 shares of the exchange traded fund’s stock, valued at approximately $372,000.

Other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ in the first quarter valued at $28,000. Mechanics Financial Corp purchased a new position in shares of Invesco QQQ in the 2nd quarter valued at about $30,000. Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ during the first quarter worth about $40,000. CGC Financial Services LLC increased its stake in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 81 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Invesco QQQ by 30.4% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock worth $46,000 after buying an additional 24 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.6 %

Shares of Invesco QQQ stock opened at $495.32 on Friday. 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 of $480.51 and a 200 day moving average of $466.68.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be given a dividend of $0.677 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.55%.

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.