Xcel Wealth Management LLC Acquires 525 Shares of Invesco QQQ (NASDAQ:QQQ)

Xcel Wealth Management LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 50.1% in the third quarter, Holdings Channel.com reports. The firm owned 1,573 shares of the exchange traded fund’s stock after buying an additional 525 shares during the period. Xcel Wealth Management LLC’s holdings in Invesco QQQ were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steel Grove Capital Advisors LLC lifted its holdings in shares of Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after buying an additional 3,102,568 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Invesco QQQ by 18,691.3% in the second quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock worth $13,307,000 after buying an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after buying an additional 894,532 shares in the last quarter. Harvard Management Co. Inc. purchased a new stake in shares of Invesco QQQ in the first quarter worth about $304,591,000. Finally, Mirae Asset Securities USA Inc. purchased a new stake in shares of Invesco QQQ in the second quarter worth about $215,600,000. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of Invesco QQQ stock opened at $495.96 on Wednesday. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52. The company’s 50-day moving average price is $479.23 and its 200-day moving average price is $465.96.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, September 23rd.

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.