Rainier Family Wealth Inc. Buys 1,540 Shares of Invesco QQQ $QQQ

Rainier Family Wealth Inc. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 38.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,553 shares of the exchange traded fund’s stock after buying an additional 1,540 shares during the period. Invesco QQQ makes up approximately 3.1% of Rainier Family Wealth Inc.’s holdings, making the stock its 8th biggest holding. Rainier Family Wealth Inc.’s holdings in Invesco QQQ were worth $2,604,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wilkins Miller Wealth Management LLC acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $1,018,000. Sentinus LLC raised its holdings in Invesco QQQ by 17.6% during the 4th quarter. Sentinus LLC now owns 6,468 shares of the exchange traded fund’s stock worth $3,307,000 after buying an additional 970 shares during the period. Sendero Wealth Management LLC acquired a new stake in Invesco QQQ during the 1st quarter worth approximately $273,000. Griffith & Werner Inc. acquired a new stake in Invesco QQQ during the 4th quarter worth approximately $583,000. Finally, GSG Advisors LLC raised its holdings in shares of Invesco QQQ by 8.2% in the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock valued at $3,600,000 after purchasing an additional 585 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.6%

NASDAQ QQQ opened at $584.08 on Friday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $584.88. The firm’s 50 day moving average is $567.63 and its 200-day moving average is $519.99.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

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.