Beese Fulmer Investment Management Inc. Raises Position in Invesco QQQ (NASDAQ:QQQ)

Beese Fulmer Investment Management Inc. boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 6.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 993 shares of the exchange traded fund’s stock after buying an additional 62 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Invesco QQQ were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the first quarter worth about $28,000. Mechanics Financial Corp purchased a new stake in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Chelsea Counsel Co. acquired a new stake in shares of Invesco QQQ in the first quarter valued at approximately $40,000. CGC Financial Services LLC lifted its position in 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 in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in 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 last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.8 %

Shares of QQQ opened at $492.32 on Friday. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52. The stock has a fifty day simple moving average of $479.75 and a two-hundred day simple moving average of $466.12.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 yield of 0.55%.

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.