Cynosure Group LLC Purchases 5,773 Shares of Invesco QQQ (NASDAQ:QQQ)

Cynosure Group LLC boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 24.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,950 shares of the exchange traded fund’s stock after acquiring an additional 5,773 shares during the quarter. Invesco QQQ accounts for approximately 2.0% of Cynosure Group LLC’s investment portfolio, making the stock its 12th biggest holding. Cynosure Group LLC’s holdings in Invesco QQQ were worth $14,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. boosted its stake in shares of Invesco QQQ by 14.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock worth $7,173,000 after acquiring an additional 1,993 shares during the period. Socha Financial Group LLC increased its holdings in shares of Invesco QQQ by 2.4% in the third quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund’s stock valued at $44,732,000 after purchasing an additional 2,171 shares during the last quarter. Archer Investment Corp raised its position in shares of Invesco QQQ by 10.2% in the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund’s stock valued at $21,281,000 after purchasing an additional 4,025 shares during the period. Bank Hapoalim BM lifted its stake in shares of Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund’s stock worth $59,250,000 after buying an additional 6,347 shares during the last quarter. Finally, Arrow Financial Corp boosted its holdings in shares of Invesco QQQ by 7.2% during the 3rd quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund’s stock worth $68,997,000 after buying an additional 9,516 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $509.31 on Wednesday. The company’s 50-day moving average price is $494.46 and its two-hundred day moving average price is $478.12. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58.

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 issued a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 annualized dividend and a yield of 0.53%.

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.