Foster & Motley Inc. Buys 57 Shares of Invesco QQQ (NASDAQ:QQQ)

Foster & Motley Inc. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 8.0% during the third quarter, Holdings Channel reports. The fund owned 766 shares of the exchange traded fund’s stock after acquiring an additional 57 shares during the period. Foster & Motley Inc.’s holdings in Invesco QQQ were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in QQQ. Northeast Investment Management lifted its position in Invesco QQQ by 0.6% during the 3rd quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after purchasing an additional 20 shares during the period. Prospect Financial Services LLC lifted its position in Invesco QQQ by 0.3% during the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock valued at $3,059,000 after purchasing an additional 21 shares during the period. Skyline Advisors Inc. lifted its position in Invesco QQQ by 5.0% during the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after purchasing an additional 21 shares during the period. Madden Advisory Services Inc. lifted its position in Invesco QQQ by 0.9% during the 3rd quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock valued at $1,214,000 after purchasing an additional 21 shares during the period. Finally, Sweeney & Michel LLC lifted its position in Invesco QQQ by 4.0% during the 2nd quarter. Sweeney & Michel LLC now owns 575 shares of the exchange traded fund’s stock valued at $286,000 after purchasing an additional 22 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock opened at $513.54 on Friday. Invesco QQQ has a 1 year low of $369.57 and a 1 year high of $514.33. The company’s 50-day moving average is $483.00 and its two-hundred day moving average is $470.34.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given a $0.677 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%.

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.