Belpointe Asset Management LLC Acquires 7,312 Shares of Invesco QQQ $QQQ

Key Points

• Belpointe Asset Management LLC increased its holdings in Invesco QQQ by 7.5%, acquiring an additional 7,312 shares, bringing its total to 105,267 shares valued at approximately $58 million.
• Invesco QQQ recently announced a dividend increase to $0.694 per share, up from the previous $0.59, reflecting a positive adjustment in its annualized dividend yield to 0.5%.
• Significant stakes in Invesco QQQ have been boosted by several institutional investors, including Goldman Sachs, which increased its holdings by nearly 960% to over 24 million shares.

Belpointe Asset Management LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,267 shares of the exchange traded fund's stock after purchasing an additional 7,312 shares during the quarter. Invesco QQQ comprises about 2.4% of Belpointe Asset Management LLC's investment portfolio, making the stock its 3rd biggest position. Belpointe Asset Management LLC's holdings in Invesco QQQ were worth $58,070,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its holdings in Invesco QQQ by 704,593.7% in the second 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 acquiring an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Invesco QQQ by 959.6% during the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new position in shares of Invesco QQQ during the first quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Invesco QQQ by 1.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock worth $1,501,063,000 after purchasing an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Invesco QQQ by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after purchasing an additional 54,944 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ opened at $604.51 on Wednesday. The stock's 50-day moving average is $581.39 and its two-hundred day moving average is $533.92. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $609.71.

Invesco QQQ Increases Dividend

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

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.

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