Encompass Wealth Advisors LLC Raises Position in Invesco QQQ (NASDAQ:QQQ)

Encompass Wealth Advisors LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 71.5% during the fourth quarter, Holdings Channel reports. The fund owned 3,253 shares of the exchange traded fund’s stock after acquiring an additional 1,356 shares during the period. Invesco QQQ comprises 0.7% of Encompass Wealth Advisors LLC’s investment portfolio, making the stock its 28th largest position. Encompass Wealth Advisors LLC’s holdings in Invesco QQQ were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. O Connor Financial Group LLC grew its holdings in Invesco QQQ by 6.2% during the 3rd quarter. O Connor Financial Group LLC now owns 17,065 shares of the exchange traded fund’s stock worth $8,329,000 after acquiring an additional 1,000 shares in the last quarter. Marcum Wealth LLC grew its stake in shares of Invesco QQQ by 1.7% during the third quarter. Marcum Wealth LLC now owns 18,961 shares of the exchange traded fund’s stock worth $9,254,000 after purchasing an additional 308 shares in the last quarter. Wedmont Private Capital increased its holdings in Invesco QQQ by 0.7% in the third quarter. Wedmont Private Capital now owns 18,848 shares of the exchange traded fund’s stock valued at $9,087,000 after buying an additional 140 shares during the last quarter. Sanibel Captiva Trust Company Inc. increased its holdings in Invesco QQQ by 11.2% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 5,483 shares of the exchange traded fund’s stock valued at $2,676,000 after buying an additional 553 shares during the last quarter. Finally, Patten Group Inc. raised its stake in Invesco QQQ by 3.3% in the third quarter. Patten Group Inc. now owns 1,539 shares of the exchange traded fund’s stock valued at $751,000 after buying an additional 49 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.5 %

NASDAQ:QQQ opened at $529.60 on Friday. Invesco QQQ has a 1 year low of $413.07 and a 1 year high of $539.15. The stock has a 50-day simple moving average of $520.51 and a 200-day simple moving average of $495.05.

Invesco QQQ Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 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.