Balboa Wealth Partners Raises Stock Holdings in Invesco QQQ $QQQ

Key Points

• Balboa Wealth Partners increased its holdings in Invesco QQQ by 33.0%, acquiring 2,652 additional shares in the second quarter, making it the firm's 15th largest position valued at $5,896,000.
• The recent quarterly dividend for Invesco QQQ was announced at $0.694 per share, up from the previous $0.59, representing an annual yield of 0.5%.
• Invesco QQQ shares have risen 0.7% and currently trade at $603.93, with a 52-week range of $402.39 to $613.18.

Balboa Wealth Partners boosted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 33.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 10,689 shares of the exchange traded fund's stock after acquiring an additional 2,652 shares during the quarter. Invesco QQQ comprises about 1.2% of Balboa Wealth Partners' portfolio, making the stock its 15th largest position. Balboa Wealth Partners' holdings in Invesco QQQ were worth $5,896,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its position in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after buying an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the period. Wealth Group Ltd. increased its stake in shares of Invesco QQQ by 305.2% in the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock worth $3,010,000 after acquiring an additional 4,835 shares during the period. GAMMA Investing LLC lifted its position in Invesco QQQ by 19.2% during the first quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock valued at $1,872,000 after purchasing an additional 643 shares during the period. Finally, Lighthouse Wealth Management Inc. lifted its position in Invesco QQQ by 0.9% during the first quarter. Lighthouse Wealth Management Inc. now owns 27,095 shares of the exchange traded fund's stock valued at $12,705,000 after purchasing an additional 247 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.7%

Shares of QQQ opened at $603.93 on Monday. The business's 50-day moving average is $587.30 and its two-hundred day moving average is $541.36. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18.

Invesco QQQ Increases Dividend

The business 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 represents a $2.78 annualized dividend and a yield of 0.5%. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd.

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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