Copley Financial Group Inc. Takes Position in Invesco QQQ (NASDAQ:QQQ)

Copley Financial Group Inc. bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,127 shares of the exchange traded fund’s stock, valued at approximately $550,000.

Other hedge funds have also recently made changes to their positions in the company. Mechanics Financial Corp purchased a new stake in Invesco QQQ in the 2nd quarter worth about $30,000. Legacy Bridge LLC raised its position in Invesco QQQ by 60.0% in the 3rd quarter. Legacy Bridge LLC now owns 120 shares of the exchange traded fund’s stock worth $59,000 after purchasing an additional 45 shares during the period. BNP Paribas purchased a new stake in Invesco QQQ in the 3rd quarter worth about $62,000. CarsonAllaria Wealth Management Ltd. raised its position in Invesco QQQ by 27.2% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 131 shares of the exchange traded fund’s stock worth $63,000 after purchasing an additional 28 shares during the period. Finally, Bray Capital Advisors raised its position in Invesco QQQ by 78.0% in the 2nd quarter. Bray Capital Advisors now owns 146 shares of the exchange traded fund’s stock worth $70,000 after purchasing an additional 64 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $6.11 during trading on Friday, reaching $532.61. 5,265,955 shares of the company were exchanged, compared to its average volume of 37,103,066. The business’s fifty day simple moving average is $502.92 and its 200-day simple moving average is $483.29. Invesco QQQ has a 12-month low of $395.34 and a 12-month high of $533.17.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were paid a dividend of $0.677 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.51%.

Invesco QQQ Company 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.