Freedom Investment Management Inc. Acquires 177 Shares of Invesco QQQ (NASDAQ:QQQ)

Freedom Investment Management Inc. grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,228 shares of the exchange traded fund’s stock after acquiring an additional 177 shares during the period. Freedom Investment Management Inc.’s holdings in Invesco QQQ were worth $2,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cynosure Group LLC boosted its holdings in shares of Invesco QQQ by 24.9% during the third quarter. Cynosure Group LLC now owns 28,950 shares of the exchange traded fund’s stock worth $14,129,000 after acquiring an additional 5,773 shares during the period. Townsquare Capital LLC boosted its stake in Invesco QQQ by 9.2% in the 3rd quarter. Townsquare Capital LLC now owns 53,201 shares of the exchange traded fund’s stock valued at $25,967,000 after purchasing an additional 4,504 shares during the period. Cadence Bank acquired a new position in Invesco QQQ in the 3rd quarter valued at $2,168,000. Carlson Capital Management increased its position in Invesco QQQ by 6.9% during the 3rd quarter. Carlson Capital Management now owns 1,677 shares of the exchange traded fund’s stock worth $819,000 after buying an additional 108 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of Invesco QQQ during the third quarter worth $28,558,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $509.31 on Wednesday. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58. The company’s 50-day simple moving average is $494.46 and its 200 day simple moving average is $478.12.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were given a dividend of $0.677 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend 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.