Gateway Wealth Partners LLC Grows Stock Position in Invesco QQQ (NASDAQ:QQQ)

Gateway Wealth Partners LLC raised its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,538 shares of the exchange traded fund’s stock after buying an additional 279 shares during the quarter. Invesco QQQ makes up approximately 0.9% of Gateway Wealth Partners LLC’s holdings, making the stock its 24th largest holding. Gateway Wealth Partners LLC’s holdings in Invesco QQQ were worth $3,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new position in shares of Invesco QQQ in the 1st quarter worth $28,000. Mechanics Financial Corp acquired a new stake in Invesco QQQ during the second quarter worth about $30,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ in the 1st quarter worth about $29,000. Legacy Bridge LLC lifted its stake in shares of Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of Invesco QQQ during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $486.75 on Monday. Invesco QQQ has a one year low of $342.35 and a one year high of $503.52. The company’s 50 day moving average price is $468.10 and its 200 day moving average price is $460.21.

Invesco QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd will be paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is 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.