Lazard Freres Gestion S.A.S. Has $585,000 Stake in Invesco QQQ (NASDAQ:QQQ)

Lazard Freres Gestion S.A.S. raised its holdings in Invesco QQQ (NASDAQ:QQQ) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,200 shares of the exchange traded fund’s stock after purchasing an additional 75 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Invesco QQQ were worth $585,000 at the end of the most recent quarter.

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

Invesco QQQ Stock Up 0.6 %

QQQ traded up $2.90 during trading on Tuesday, hitting $509.49. 3,000,139 shares of the stock traded hands, compared to its average volume of 37,817,754. The business has a 50 day moving average price of $493.75 and a 200 day moving average price of $477.65. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were given 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 dividend 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.