Beaton Management Co. Inc. Has $3.38 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Beaton Management Co. Inc. increased its position in Invesco QQQ (NASDAQ:QQQ) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,932 shares of the exchange traded fund’s stock after purchasing an additional 70 shares during the quarter. Invesco QQQ makes up 1.7% of Beaton Management Co. Inc.’s portfolio, making the stock its 18th biggest position. Beaton Management Co. Inc.’s holdings in Invesco QQQ were worth $3,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sather Financial Group Inc acquired a new position in shares of Invesco QQQ in the 3rd quarter valued at $563,000. Schear Investment Advisers LLC increased its holdings in Invesco QQQ by 7.5% in the third quarter. Schear Investment Advisers LLC now owns 7,047 shares of the exchange traded fund’s stock valued at $3,439,000 after purchasing an additional 490 shares during the last quarter. Mount Lucas Management LP lifted its stake in Invesco QQQ by 35.7% in the third quarter. Mount Lucas Management LP now owns 53,283 shares of the exchange traded fund’s stock valued at $26,006,000 after buying an additional 14,015 shares during the period. Veery Capital LLC boosted its holdings in Invesco QQQ by 1.8% during the third quarter. Veery Capital LLC now owns 3,058 shares of the exchange traded fund’s stock worth $1,492,000 after buying an additional 53 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC boosted its holdings in Invesco QQQ by 1.2% during the third quarter. Mill Creek Capital Advisors LLC now owns 9,274 shares of the exchange traded fund’s stock worth $4,526,000 after buying an additional 112 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 2.4 %

Shares of QQQ stock opened at $496.57 on Friday. The stock has a 50-day moving average of $489.33 and a 200-day moving average of $474.46. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, September 23rd.

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.