Kraft Davis & Associates LLC Increases Stake in Invesco QQQ $QQQ

Kraft Davis & Associates LLC raised its stake in Invesco QQQ (NASDAQ:QQQ) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,832 shares of the exchange traded fund’s stock after acquiring an additional 135 shares during the quarter. Kraft Davis & Associates LLC’s holdings in Invesco QQQ were worth $2,746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ during the second quarter worth $41,000. Alpine Bank Wealth Management purchased a new position in Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC acquired a new position in shares of Invesco QQQ in the first quarter worth about $51,000. Blume Capital Management Inc. boosted its stake in shares of Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC boosted its stake in shares of Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $599.99 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $613.18. The business has a 50-day moving average price of $586.71 and a 200 day moving average price of $539.38.

Invesco QQQ Increases Dividend

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

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.