Invesco QQQ $QQQ is BKM Wealth Management LLC’s 7th Largest Position

BKM Wealth Management LLC trimmed its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,675 shares of the exchange traded fund’s stock after selling 364 shares during the period. Invesco QQQ makes up 2.1% of BKM Wealth Management LLC’s investment portfolio, making the stock its 7th largest holding. BKM Wealth Management LLC’s holdings in Invesco QQQ were worth $5,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in QQQ. Kingstone Capital Partners Texas LLC increased its holdings in 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 valued at $37,299,340,000 after buying an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after buying an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new stake in Invesco QQQ during the first quarter valued at approximately $2,775,904,000. Spear Holdings RSC Ltd purchased a new stake in Invesco QQQ during the first quarter valued at approximately $474,600,000. Finally, Altimeter Capital Management LP purchased a new stake in Invesco QQQ during the first quarter valued at approximately $463,293,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.7%

Shares of QQQ stock opened at $603.93 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18. The company has a 50 day simple moving average of $587.30 and a two-hundred day simple moving average of $540.73.

Invesco QQQ Increases Dividend

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

Invesco QQQ 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.