McClarren Financial Advisors Inc. Has $3.42 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

McClarren Financial Advisors Inc. boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,000 shares of the exchange traded fund’s stock after purchasing an additional 293 shares during the quarter. Invesco QQQ comprises about 1.8% of McClarren Financial Advisors Inc.’s holdings, making the stock its 10th biggest position. McClarren Financial Advisors Inc.’s holdings in Invesco QQQ were worth $3,416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Trinity Wealth Management LLC grew its stake in shares of Invesco QQQ by 1.9% in the 3rd quarter. Trinity Wealth Management LLC now owns 36,511 shares of the exchange traded fund’s stock valued at $17,820,000 after buying an additional 679 shares during the period. Cyndeo Wealth Partners LLC increased its holdings in shares of Invesco QQQ by 84.8% during the third quarter. Cyndeo Wealth Partners LLC now owns 2,881 shares of the exchange traded fund’s stock valued at $1,406,000 after acquiring an additional 1,322 shares in the last quarter. Werba Rubin Papier Wealth Management raised its position in shares of Invesco QQQ by 59.1% during the third quarter. Werba Rubin Papier Wealth Management now owns 2,179 shares of the exchange traded fund’s stock worth $1,064,000 after purchasing an additional 809 shares during the period. Cedrus LLC lifted its holdings in shares of Invesco QQQ by 180.9% in the 3rd quarter. Cedrus LLC now owns 4,328 shares of the exchange traded fund’s stock worth $2,113,000 after purchasing an additional 2,787 shares in the last quarter. Finally, Proathlete Wealth Management LLC grew its position in Invesco QQQ by 5.6% in the 3rd quarter. Proathlete Wealth Management LLC now owns 24,317 shares of the exchange traded fund’s stock valued at $11,871,000 after purchasing an additional 1,284 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.7 %

Invesco QQQ stock opened at $494.47 on Monday. The firm’s fifty day moving average price is $477.68 and its two-hundred day moving average price is $465.15. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52.

Invesco QQQ Cuts Dividend

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