Transamerica Financial Advisors Inc. Takes Position in Invesco QQQ (NASDAQ:QQQ)

Transamerica Financial Advisors Inc. purchased a new stake in shares of Invesco QQQ (NASDAQ:QQQ) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 58,512 shares of the exchange traded fund’s stock, valued at approximately $28,558,000. Invesco QQQ accounts for 2.8% of Transamerica Financial Advisors Inc.’s holdings, making the stock its 3rd biggest holding.

A number of other large investors also recently modified their holdings of the business. International Assets Investment Management LLC boosted its position in shares of Invesco QQQ by 46,491.6% in the 3rd quarter. International Assets Investment Management LLC now owns 32,586,150 shares of the exchange traded fund’s stock valued at $15,904,322,000 after purchasing an additional 32,516,210 shares during the period. Strategic Financial Concepts LLC grew its stake in Invesco QQQ by 18,691.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,777,351 shares of the exchange traded fund’s stock valued at $13,307,000 after acquiring an additional 2,762,571 shares in the last quarter. Granite Bay Wealth Management LLC grew its stake in Invesco QQQ by 6,215.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock valued at $409,513,000 after acquiring an additional 894,532 shares in the last quarter. Mirae Asset Securities USA Inc. purchased a new position in Invesco QQQ during the 2nd quarter valued at about $215,600,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in Invesco QQQ by 6,880.6% during the 2nd quarter. CBIZ Investment Advisory Services LLC now owns 395,588 shares of the exchange traded fund’s stock valued at $189,530,000 after acquiring an additional 389,921 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.4 %

NASDAQ:QQQ traded up $2.09 on Tuesday, hitting $508.68. 5,137,331 shares of the company’s stock traded hands, compared to its average volume of 37,824,988. Invesco QQQ has a 1 year low of $382.66 and a 1 year high of $515.58. The firm has a 50-day moving average price of $493.75 and a 200-day moving average price of $477.65.

Invesco QQQ Cuts Dividend

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

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.