Truvestments Capital LLC Has $17.40 Million Position in Invesco QQQ (NASDAQ:QQQ)

Truvestments Capital LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 506.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,646 shares of the exchange traded fund’s stock after buying an additional 29,771 shares during the period. Invesco QQQ makes up 4.7% of Truvestments Capital LLC’s investment portfolio, making the stock its 3rd biggest position. Truvestments Capital LLC’s holdings in Invesco QQQ were worth $17,398,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in Invesco QQQ by 46,491.6% during the third quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock worth $15,904,322,000 after purchasing an additional 32,516,210 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Invesco QQQ by 7.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,966,637 shares of the exchange traded fund’s stock worth $2,379,676,000 after buying an additional 338,494 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Invesco QQQ by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,199,214 shares of the exchange traded fund’s stock valued at $1,532,904,000 after buying an additional 33,790 shares in the last quarter. Strategic Financial Concepts LLC grew its position in Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Invesco QQQ by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 2,544,540 shares of the exchange traded fund’s stock worth $1,219,115,000 after acquiring an additional 64,401 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ stock opened at $508.38 on Monday. The firm has a 50-day moving average price of $493.08 and a 200-day moving average price of $477.19. Invesco QQQ has a 12 month low of $382.66 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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.