Massachusetts Wealth Management Has $2.35 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Massachusetts Wealth Management raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,817 shares of the exchange traded fund’s stock after purchasing an additional 150 shares during the quarter. Invesco QQQ accounts for 1.5% of Massachusetts Wealth Management’s portfolio, making the stock its 25th largest holding. Massachusetts Wealth Management’s holdings in Invesco QQQ were worth $2,351,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of QQQ. Westwood Holdings Group Inc. raised its stake in shares of Invesco QQQ by 14.1% in the first quarter. Westwood Holdings Group Inc. now owns 16,155 shares of the exchange traded fund’s stock valued at $7,173,000 after acquiring an additional 1,993 shares during the last quarter. Socha Financial Group LLC increased its holdings in Invesco QQQ by 1.3% during the 1st quarter. Socha Financial Group LLC now owns 88,948 shares of the exchange traded fund’s stock valued at $39,494,000 after purchasing an additional 1,153 shares in the last quarter. SVB Wealth LLC raised its position in Invesco QQQ by 15.2% in the 1st quarter. SVB Wealth LLC now owns 18,559 shares of the exchange traded fund’s stock valued at $8,240,000 after purchasing an additional 2,453 shares during the last quarter. WFA Asset Management Corp boosted its stake in Invesco QQQ by 70.6% in the first quarter. WFA Asset Management Corp now owns 4,577 shares of the exchange traded fund’s stock worth $2,032,000 after purchasing an additional 1,894 shares in the last quarter. Finally, Daymark Wealth Partners LLC grew its holdings in shares of Invesco QQQ by 30.4% during the second quarter. Daymark Wealth Partners LLC now owns 17,239 shares of the exchange traded fund’s stock worth $8,259,000 after purchasing an additional 4,015 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Up 0.6 %

Invesco QQQ stock opened at $495.32 on Friday. The stock has a 50-day simple moving average of $480.10 and a 200 day simple moving average of $466.30. Invesco QQQ has a 12-month low of $342.35 and a 12-month high of $503.52.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 23rd.

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.