Pathway Financial Advisers LLC Acquires New Stake in Invesco QQQ (NASDAQ:QQQ)

Pathway Financial Advisers LLC acquired a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 416 shares of the exchange traded fund’s stock, valued at approximately $185,000.

A number of other hedge funds have also made changes to their positions in the stock. Summit X LLC increased its stake in Invesco QQQ by 0.4% during the 4th quarter. Summit X LLC now owns 5,983 shares of the exchange traded fund’s stock valued at $2,451,000 after purchasing an additional 24 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in Invesco QQQ by 30.4% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 103 shares of the exchange traded fund’s stock valued at $46,000 after purchasing an additional 24 shares in the last quarter. Second Line Capital LLC increased its stake in Invesco QQQ by 2.6% during the 1st quarter. Second Line Capital LLC now owns 951 shares of the exchange traded fund’s stock valued at $422,000 after purchasing an additional 24 shares in the last quarter. Cedrus LLC increased its stake in Invesco QQQ by 1.7% during the 4th quarter. Cedrus LLC now owns 1,456 shares of the exchange traded fund’s stock valued at $596,000 after purchasing an additional 25 shares in the last quarter. Finally, Waterfront Wealth Inc. increased its stake in Invesco QQQ by 3.1% during the 4th quarter. Waterfront Wealth Inc. now owns 840 shares of the exchange traded fund’s stock valued at $344,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded down $10.91 during midday trading on Friday, reaching $448.75. The company had a trading volume of 66,323,244 shares, compared to its average volume of 39,428,968. The company’s 50 day moving average price is $475.15 and its 200 day moving average price is $449.19. Invesco QQQ has a 52-week low of $342.35 and a 52-week high of $503.52.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, June 24th were issued a $0.7615 dividend. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th.

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.