Avidian Wealth Enterprises LLC Buys 879 Shares of Invesco QQQ $QQQ

Key Points

• Avidian Wealth Enterprises LLC increased its holdings in Invesco QQQ by 16.8% during the 2nd quarter, now owning a total of 6,103 shares worth approximately $3,367,000.
• Invesco QQQ announced a quarterly dividend of $0.694 per share, up from the previous dividend of $0.59, reflecting an annualized yield of 0.5%.
• As of the latest report, institutional investors hold 44.58% of Invesco QQQ's shares, indicating strong institutional interest in the fund.

Avidian Wealth Enterprises LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 16.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,103 shares of the exchange traded fund's stock after purchasing an additional 879 shares during the period. Avidian Wealth Enterprises LLC's holdings in Invesco QQQ were worth $3,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Morgan Dempsey Capital Management LLC bought a new stake in shares of Invesco QQQ in the second quarter valued at approximately $30,000. Marshall & Sullivan Inc. WA bought a new stake in Invesco QQQ during the 2nd quarter worth approximately $41,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ during the 1st quarter worth approximately $51,000. Finally, Blume Capital Management Inc. increased its holdings in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares during the period. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 1.3%

Invesco QQQ stock opened at $611.54 on Tuesday. The firm's 50 day simple moving average is $588.07 and its 200 day simple moving average is $542.68. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $613.18.

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 issued a dividend of $0.694 per share. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

Invesco QQQ 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.

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