Smithfield Trust Co Increases Stock Holdings in Invesco QQQ $QQQ

Smithfield Trust Co boosted its stake in Invesco QQQ (NASDAQ:QQQ) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,678 shares of the exchange traded fund’s stock after acquiring an additional 7,868 shares during the period. Invesco QQQ accounts for approximately 2.4% of Smithfield Trust Co’s holdings, making the stock its 12th biggest holding. Smithfield Trust Co’s holdings in Invesco QQQ were worth $51,821,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Morgan Dempsey Capital Management LLC purchased a new position in shares of Invesco QQQ during the second quarter valued at about $30,000. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $41,000. Moser Wealth Advisors LLC grew its stake in Invesco QQQ by 930.0% in the second quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock worth $57,000 after purchasing an additional 93 shares during the period. Blume Capital Management Inc. raised its holdings in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC lifted its position in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after buying an additional 120 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.1%

NASDAQ:QQQ opened at $621.06 on Thursday. The firm’s 50-day moving average price is $604.54 and its 200-day moving average price is $563.31. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $637.01.

Invesco QQQ Increases Dividend

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