Invesco QQQ $QQQ Stock Position Lifted by BCS Wealth Management

BCS Wealth Management boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 10.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,646 shares of the exchange traded fund’s stock after buying an additional 726 shares during the quarter. BCS Wealth Management’s holdings in Invesco QQQ were worth $4,218,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC raised its holdings in shares of Invesco QQQ by 704,593.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock worth $37,299,340,000 after acquiring an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. acquired a new position in Invesco QQQ in the 1st quarter worth about $2,775,904,000. GAMMA Investing LLC raised its stake in shares of Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund’s stock worth $8,777,850,000 after purchasing an additional 1,868,580 shares in the last quarter. Finally, Spear Holdings RSC Ltd acquired a new stake in shares of Invesco QQQ during the 1st quarter valued at about $474,600,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $598.20 on Wednesday. The business has a 50 day simple moving average of $573.94 and a 200 day simple moving average of $525.30. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $602.87.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.694 per share. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd. This represents a $2.78 annualized dividend and a dividend yield of 0.5%.

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.