Apollon Wealth Management LLC Buys 1,314 Shares of Invesco QQQ $QQQ

Key Points

• Apollon Wealth Management LLC increased its stake in Invesco QQQ by 1.5% during the 2nd quarter, acquiring an additional 1,314 shares, bringing its total to 89,576 shares valued at approximately $49.4 million.
• Invesco QQQ recently announced a quarterly dividend of $0.694 per share, a rise from the previous dividend of $0.59, representing an annualized yield of 0.5%.
• Shares of Invesco QQQ are currently trading down 3.5% with a 12-month price range between $402.39 and $613.18.

Apollon Wealth Management LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,576 shares of the exchange traded fund's stock after acquiring an additional 1,314 shares during the quarter. Invesco QQQ makes up about 1.0% of Apollon Wealth Management LLC's portfolio, making the stock its 15th biggest position. Apollon Wealth Management LLC's holdings in Invesco QQQ were worth $49,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of QQQ. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Invesco QQQ by 704,593.7% during the 2nd 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 purchasing an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Invesco QQQ by 959.6% during the 1st 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 purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at $2,775,904,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Invesco QQQ by 1.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock valued at $1,501,063,000 after purchasing an additional 52,234 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Invesco QQQ by 2.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after purchasing an additional 54,944 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 3.5%

Shares of QQQ opened at $589.55 on Monday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18. The stock has a fifty day moving average price of $583.89 and a 200-day moving average price of $536.68.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.694 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59.

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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