IHT Wealth Management LLC boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 42.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 267,180 shares of the exchange traded fund's stock after buying an additional 79,644 shares during the period. Invesco QQQ makes up 3.7% of IHT Wealth Management LLC's holdings, making the stock its 2nd biggest holding. IHT Wealth Management LLC's holdings in Invesco QQQ were worth $129,749,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Socha Financial Group LLC lifted its position in shares of Invesco QQQ by 2.4% during the 3rd quarter. Socha Financial Group LLC now owns 91,650 shares of the exchange traded fund's stock valued at $44,732,000 after acquiring an additional 2,171 shares during the period. Archer Investment Corp raised its holdings in shares of Invesco QQQ by 10.2% during the third quarter. Archer Investment Corp now owns 43,603 shares of the exchange traded fund's stock valued at $21,281,000 after purchasing an additional 4,025 shares during the period. Bank Hapoalim BM boosted its position in shares of Invesco QQQ by 5.5% during the 3rd quarter. Bank Hapoalim BM now owns 121,397 shares of the exchange traded fund's stock worth $59,250,000 after purchasing an additional 6,347 shares in the last quarter. Marco Investment Management LLC boosted its position in shares of Invesco QQQ by 48.1% during the 3rd quarter. Marco Investment Management LLC now owns 9,621 shares of the exchange traded fund's stock worth $4,696,000 after purchasing an additional 3,123 shares in the last quarter. Finally, Arrow Financial Corp grew its stake in shares of Invesco QQQ by 7.2% in the 3rd quarter. Arrow Financial Corp now owns 141,366 shares of the exchange traded fund's stock valued at $68,997,000 after buying an additional 9,516 shares during the period. Institutional investors own 44.58% of the company's stock.
QQQ stock traded down $0.78 during trading on Tuesday, reaching $514.51. 2,375,312 shares of the stock were exchanged, compared to its average volume of 37,558,957. The firm's 50 day moving average is $496.13 and its 200 day moving average is $479.38. Invesco QQQ has a twelve month low of $382.66 and a twelve month high of $516.26.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 23rd were given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd.
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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