Proficio Capital Partners LLC Increases Stake in Invesco QQQ

Proficio Capital Partners LLC has increased its investment in Invesco QQQ (NASDAQ:QQQ) by 20.5% during the third quarter, as reported in their latest filing with the Securities and Exchange Commission. Following the acquisition of 3,803 additional shares, Proficio now owns a total of 22,378 shares of this exchange-traded fund (ETF). Invesco QQQ accounts for approximately 1.1% of Proficio's overall investment portfolio, ranking it as their 23rd largest position. The current valuation of Proficio's holdings in Invesco QQQ is reported to be $10,922,000, based on the latest SEC disclosure.

Institutional Investors' Movements

Proficio is not alone in modifying its position in Invesco QQQ; several other institutional investors have also made changes to their holdings recently. For instance, New Covenant Trust Company N.A. acquired a new position in Invesco QQQ valued at $28,000 during the first quarter. Mechanics Financial Corp made a similar move with a $30,000 investment in the second quarter. Chelsea Counsel Co. also purchased shares during the first quarter, investing $40,000. Additionally, CGC Financial Services LLC significantly boosted its holdings by 736.4% in the second quarter, now owning 92 shares valued at $44,000 after acquiring an additional 81 shares. Furthermore, PFG Private Wealth Management LLC increased its investment in Invesco QQQ by 572.2%, owning 121 shares currently valued at $58,000 after buying 103 more shares in the last quarter. Overall, institutional investors own about 44.58% of Invesco QQQ's stock.

Performance Overview of Invesco QQQ

On the market, shares of Invesco QQQ (NASDAQ:QQQ) opened at $514.14. The ETF has a 12-month low of $369.57 and a 12-month high of $514.92. It is noteworthy that the fifty-day simple moving average stands at $484.62, while the two-hundred day simple moving average is at $471.30.

Dividend Update

Recently, Invesco QQQ announced a quarterly dividend of $0.677, which was distributed on Thursday, October 31st. Shareholders who were on record as of Monday, September 23rd, received this dividend, with the ex-dividend date also set for September 23rd. This brings the annualized dividend to $2.71, yielding approximately 0.53%.

About Invesco QQQ

The PowerShares QQQ Trust, Series 1, is a unit investment trust that issues securities known as Nasdaq-100 Index Tracking Stock. The primary goal of this Trust is to deliver investment results that closely correspond to the performance of the Nasdaq-100 Index. Investors can obtain units of beneficial interest in the Trust, which represent a proportionate share of the securities contained within the portfolio, mirroring the component securities of the Nasdaq-100 Index.

Investment, ETF, Stocks