Momentum Wealth Planning LLC Takes $16.15 Million Position in Invesco QQQ $QQQ

Momentum Wealth Planning LLC bought a new stake in Invesco QQQ (NASDAQ:QQQ) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 29,241 shares of the exchange traded fund’s stock, valued at approximately $16,147,000. Invesco QQQ comprises approximately 13.7% of Momentum Wealth Planning LLC’s portfolio, making the stock its 2nd largest position.

Several other institutional investors also recently bought and sold shares of the stock. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Invesco QQQ during the second quarter valued at approximately $30,000. Marshall & Sullivan Inc. WA bought a new stake in Invesco QQQ during the 2nd quarter valued at $41,000. Moser Wealth Advisors LLC boosted its position in Invesco QQQ by 930.0% during the 2nd quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 93 shares during the period. Ransom Advisory Ltd bought a new stake in Invesco QQQ in the 1st quarter worth $70,000. Finally, Barrett & Company Inc. increased its position in shares of Invesco QQQ by 14.9% in the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund’s stock valued at $85,000 after acquiring an additional 20 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.5%

Shares of NASDAQ:QQQ opened at $610.54 on Tuesday. The company has a 50-day moving average price of $613.69 and a 200-day moving average price of $581.65. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $637.01.

Invesco QQQ Increases Dividend

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

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.