Summit Trail Advisors LLC Has $11.15 Million Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Summit Trail Advisors LLC grew its position in shares of Invesco QQQ (NASDAQ:QQQ) by 37.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,809 shares of the exchange traded fund’s stock after acquiring an additional 6,186 shares during the quarter. Summit Trail Advisors LLC’s holdings in Invesco QQQ were worth $11,148,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QQQ. Northeast Investment Management grew its position in Invesco QQQ by 0.6% in the third quarter. Northeast Investment Management now owns 3,476 shares of the exchange traded fund’s stock valued at $1,697,000 after purchasing an additional 20 shares in the last quarter. Planning Capital Management Corp lifted its position in Invesco QQQ by 7.1% during the 3rd quarter. Planning Capital Management Corp now owns 300 shares of the exchange traded fund’s stock worth $146,000 after buying an additional 20 shares in the last quarter. Prospect Financial Services LLC boosted its stake in shares of Invesco QQQ by 0.3% during the 2nd quarter. Prospect Financial Services LLC now owns 6,385 shares of the exchange traded fund’s stock worth $3,059,000 after buying an additional 21 shares during the last quarter. Skyline Advisors Inc. grew its holdings in shares of Invesco QQQ by 5.0% in the 3rd quarter. Skyline Advisors Inc. now owns 441 shares of the exchange traded fund’s stock valued at $215,000 after acquiring an additional 21 shares in the last quarter. Finally, Madden Advisory Services Inc. raised its holdings in Invesco QQQ by 0.9% during the third quarter. Madden Advisory Services Inc. now owns 2,487 shares of the exchange traded fund’s stock worth $1,214,000 after acquiring an additional 21 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $505.79 on Friday. Invesco QQQ has a 52 week low of $382.66 and a 52 week high of $515.58. The stock has a 50 day moving average price of $493.08 and a 200 day moving average price of $476.93.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 23rd were paid a $0.677 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.71 annualized dividend and a dividend yield of 0.54%.

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.