Spire Wealth Management Acquires 11,387 Shares of Invesco QQQ $QQQ

Spire Wealth Management increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 31.0% during the second quarter, Holdings Channel.com reports. The firm owned 48,129 shares of the exchange traded fund’s stock after buying an additional 11,387 shares during the period. Invesco QQQ makes up 0.9% of Spire Wealth Management’s holdings, making the stock its 14th biggest holding. Spire Wealth Management’s holdings in Invesco QQQ were worth $26,409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hantz Financial Services Inc. boosted its stake in shares of Invesco QQQ by 27.6% during the second quarter. Hantz Financial Services Inc. now owns 5,980 shares of the exchange traded fund’s stock valued at $3,299,000 after purchasing an additional 1,294 shares in the last quarter. Horizon Wealth Management LLC boosted its stake in shares of Invesco QQQ by 0.7% during the second quarter. Horizon Wealth Management LLC now owns 130,271 shares of the exchange traded fund’s stock valued at $71,863,000 after purchasing an additional 942 shares in the last quarter. Buck Wealth Strategies LLC lifted its position in Invesco QQQ by 44.4% during the second quarter. Buck Wealth Strategies LLC now owns 5,338 shares of the exchange traded fund’s stock valued at $2,944,000 after acquiring an additional 1,641 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in Invesco QQQ by 4.5% during the second quarter. Flagship Harbor Advisors LLC now owns 22,097 shares of the exchange traded fund’s stock valued at $12,189,000 after acquiring an additional 954 shares during the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in Invesco QQQ by 3.1% during the second quarter. Daymark Wealth Partners LLC now owns 20,499 shares of the exchange traded fund’s stock valued at $11,308,000 after acquiring an additional 609 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $635.77 on Thursday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $637.01. The firm has a 50 day moving average of $594.30 and a 200 day moving average of $551.44.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%.

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.