Axim Planning & Wealth Invests $250,000 in Invesco QQQ (NASDAQ:QQQ)

Axim Planning & Wealth purchased a new stake in Invesco QQQ (NASDAQ:QQQ) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 512 shares of the exchange traded fund’s stock, valued at approximately $250,000. Invesco QQQ comprises approximately 0.3% of Axim Planning & Wealth’s holdings, making the stock its 24th largest position.

A number of other hedge funds also recently made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new position in shares of Invesco QQQ in the 1st quarter worth about $28,000. Mechanics Financial Corp acquired a new position in Invesco QQQ in the second quarter valued at approximately $30,000. Chelsea Counsel Co. bought a new position in shares of Invesco QQQ during the 1st quarter worth approximately $40,000. CGC Financial Services LLC increased its stake in shares of Invesco QQQ by 736.4% in the 2nd quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 81 shares in the last quarter. Finally, PFG Private Wealth Management LLC lifted its position in shares of Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 103 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 0.1 %

QQQ opened at $512.25 on Thursday. The company has a fifty day moving average price of $486.39 and a two-hundred day moving average price of $473.15. Invesco QQQ has a 1-year low of $382.66 and a 1-year high of $515.58.

Invesco QQQ Cuts Dividend

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