Mount Lucas Management LP Has $26.01 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Mount Lucas Management LP raised its stake in Invesco QQQ (NASDAQ:QQQ) by 35.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,283 shares of the exchange traded fund’s stock after buying an additional 14,015 shares during the period. Invesco QQQ comprises about 8.8% of Mount Lucas Management LP’s portfolio, making the stock its 2nd biggest position. Mount Lucas Management LP’s holdings in Invesco QQQ were worth $26,006,000 as of its most recent filing with the Securities and Exchange Commission.

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

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $496.57 on Friday. The stock’s 50-day moving average is $489.33 and its 200 day moving average is $474.46. Invesco QQQ has a one year low of $382.66 and a one year high of $515.58.

Invesco QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 23rd were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was 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.