Accredited Investors Inc. Has $35.80 Million Position in Invesco QQQ (NASDAQ:QQQ)

Accredited Investors Inc. grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 1,851.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,344 shares of the exchange traded fund’s stock after purchasing an additional 69,585 shares during the quarter. Invesco QQQ comprises about 0.9% of Accredited Investors Inc.’s portfolio, making the stock its 19th biggest position. Accredited Investors Inc.’s holdings in Invesco QQQ were worth $35,797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in QQQ. New Covenant Trust Company N.A. acquired a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $28,000. Mechanics Financial Corp bought a new stake in Invesco QQQ in the second quarter valued at $30,000. Chelsea Counsel Co. acquired a new position in shares of Invesco QQQ during the first quarter valued at about $40,000. CGC Financial Services LLC raised its holdings in shares of Invesco QQQ by 736.4% during the second quarter. CGC Financial Services LLC now owns 92 shares of the exchange traded fund’s stock valued at $44,000 after purchasing an additional 81 shares during the period. Finally, PFG Private Wealth Management LLC boosted its position in shares of Invesco QQQ by 572.2% during the 2nd quarter. PFG Private Wealth Management LLC now owns 121 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Invesco QQQ stock traded down $0.86 during midday trading on Tuesday, reaching $512.98. The stock had a trading volume of 6,036,911 shares, compared to its average volume of 38,208,918. The company has a fifty day moving average price of $485.37 and a two-hundred day moving average price of $472.57. Invesco QQQ has a 12 month low of $375.24 and a 12 month high of $515.58.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.

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.