Mustard Seed Financial LLC Acquires New Position in Invesco QQQ (NASDAQ:QQQ)

Mustard Seed Financial LLC bought a new position in Invesco QQQ (NASDAQ:QQQ) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 412 shares of the exchange traded fund’s stock, valued at approximately $201,000.

A number of other large investors also recently made changes to their positions in the business. New Covenant Trust Company N.A. purchased a new position in Invesco QQQ during the first quarter worth approximately $28,000. Mechanics Financial Corp acquired a new position in Invesco QQQ in the second quarter valued at $30,000. Deane Retirement Strategies Inc. purchased a new stake in Invesco QQQ during the first quarter valued at about $29,000. Chelsea Counsel Co. acquired a new stake in Invesco QQQ during the first quarter worth about $40,000. Finally, CGC Financial Services LLC increased its stake 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 acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ traded down $6.44 during midday trading on Tuesday, hitting $491.06. The stock had a trading volume of 15,363,605 shares, compared to its average volume of 39,118,672. Invesco QQQ has a 1-year low of $342.35 and a 1-year high of $503.52. The company has a fifty day moving average price of $473.79 and a 200 day moving average price of $463.77.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 dividend on an annualized basis 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.