Barlow Wealth Partners Inc. Acquires 136 Shares of Invesco QQQ (NASDAQ:QQQ)

Barlow Wealth Partners Inc. raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 16.8% in the 3rd quarter, Holdings Channel reports. The firm owned 944 shares of the exchange traded fund’s stock after purchasing an additional 136 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in Invesco QQQ were worth $455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Visionary Wealth Advisors grew its stake in Invesco QQQ by 6.3% in the fourth quarter. Visionary Wealth Advisors now owns 9,316 shares of the exchange traded fund’s stock valued at $3,815,000 after purchasing an additional 556 shares during the last quarter. Hancock Whitney Corp grew its stake in Invesco QQQ by 311.7% in the fourth quarter. Hancock Whitney Corp now owns 11,602 shares of the exchange traded fund’s stock valued at $4,751,000 after purchasing an additional 8,784 shares during the last quarter. BOKF NA grew its stake in Invesco QQQ by 6.6% in the fourth quarter. BOKF NA now owns 116,219 shares of the exchange traded fund’s stock valued at $47,594,000 after purchasing an additional 7,157 shares during the last quarter. Oribel Capital Management LP grew its stake in Invesco QQQ by 109.8% in the fourth quarter. Oribel Capital Management LP now owns 2,150 shares of the exchange traded fund’s stock valued at $880,000 after purchasing an additional 1,125 shares during the last quarter. Finally, First Financial Bankshares Inc purchased a new position in Invesco QQQ in the fourth quarter valued at about $296,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

QQQ traded up $1.33 on Wednesday, hitting $490.63. The company had a trading volume of 5,284,029 shares, compared to its average volume of 39,363,230. The stock has a fifty day moving average price of $470.56 and a 200-day moving average price of $462.37. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

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

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.