Abound Wealth Management Buys 466 Shares of Invesco QQQ $QQQ

Key Points

• Abound Wealth Management has increased its holdings in Invesco QQQ by 15.1%, now owning 3,543 shares valued at approximately $1.95 million.
• Recent disclosures indicate that 44.58% of Invesco QQQ's shares are owned by institutional investors, with several funds significantly increasing their stakes.
• Invesco QQQ recently paid a quarterly dividend of $0.5911 per share, representing a 0.4% yield on an annualized basis.

Abound Wealth Management grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 15.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,543 shares of the exchange traded fund's stock after buying an additional 466 shares during the period. Invesco QQQ accounts for approximately 0.6% of Abound Wealth Management's portfolio, making the stock its 27th largest holding. Abound Wealth Management's holdings in Invesco QQQ were worth $1,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ during the second quarter valued at about $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the first quarter valued at about $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the first quarter valued at about $51,000. Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after buying an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC increased its position in shares of 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 currently owned by institutional investors.

Invesco QQQ Trading Up 0.7%

Shares of QQQ opened at $599.35 on Friday. The business's 50-day moving average price is $572.19 and its 200-day moving average price is $523.77. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $600.05.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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.

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