Sequoia Financial Advisors LLC increased its position in Invesco QQQ Trust (NASDAQ:QQQ) by 30.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,454 shares of the exchange traded fund’s stock after buying an additional 13,071 shares during the period. Invesco QQQ Trust accounts for approximately 0.8% of Sequoia Financial Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Sequoia Financial Advisors LLC’s holdings in Invesco QQQ Trust were worth $15,407,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. Walled Lake Planning & Wealth Management LLC grew its stake in shares of Invesco QQQ Trust by 414.3% in the 2nd quarter. Walled Lake Planning & Wealth Management LLC now owns 108 shares of the exchange traded fund’s stock valued at $27,000 after buying an additional 87 shares during the period. First National Bank of South Miami grew its stake in shares of Invesco QQQ Trust by 300.0% in the 2nd quarter. First National Bank of South Miami now owns 120 shares of the exchange traded fund’s stock valued at $30,000 after buying an additional 90 shares during the period. Lipe & Dalton acquired a new stake in shares of Invesco QQQ Trust in the 2nd quarter valued at about $50,000. Heritage Wealth Advisors grew its stake in shares of Invesco QQQ Trust by 64.1% in the 2nd quarter. Heritage Wealth Advisors now owns 343 shares of the exchange traded fund’s stock valued at $74,000 after buying an additional 134 shares during the period. Finally, Lenox Wealth Advisors LLC lifted its position in Invesco QQQ Trust by 96.2% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 306 shares of the exchange traded fund’s stock valued at $76,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 42.99% of the company’s stock.
Separately, ValuEngine cut shares of Invesco QQQ Trust from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 22nd will be given a $0.388 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $1.55 annualized dividend and a yield of 0.56%.
Invesco QQQ Trust 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.
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