Castle Rock Wealth Management LLC Raises Stock Position in Invesco QQQ $QQQ

Key Points

• Castle Rock Wealth Management LLC increased its holdings in Invesco QQQ by 32.8% during the second quarter, bringing their total shares to 7,740, valued at approximately $4.38 million.
• Several other institutional investors also expanded their positions in Invesco QQQ, with Morton Capital Management LLC increasing its stake by 53.5% and LifeSteps Financial Inc. increasing by 7.6%.
• Invesco QQQ announced a quarterly dividend increase to $0.694 per share, up from the previous $0.59, with an ex-dividend date set for September 22nd.

Castle Rock Wealth Management LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 32.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,740 shares of the exchange traded fund's stock after purchasing an additional 1,912 shares during the period. Invesco QQQ comprises about 1.0% of Castle Rock Wealth Management LLC's portfolio, making the stock its 18th biggest position. Castle Rock Wealth Management LLC's holdings in Invesco QQQ were worth $4,378,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Morton Capital Management LLC CA increased its stake in shares of Invesco QQQ by 53.5% during the second quarter. Morton Capital Management LLC CA now owns 8,019 shares of the exchange traded fund's stock worth $4,424,000 after buying an additional 2,796 shares during the period. Gainplan LLC purchased a new stake in shares of Invesco QQQ during the second quarter worth approximately $38,853,000. WESPAC Advisors LLC increased its stake in shares of Invesco QQQ by 9.6% during the second quarter. WESPAC Advisors LLC now owns 2,253 shares of the exchange traded fund's stock worth $1,243,000 after buying an additional 198 shares during the period. LifeSteps Financial Inc. increased its stake in shares of Invesco QQQ by 7.6% during the second quarter. LifeSteps Financial Inc. now owns 41,301 shares of the exchange traded fund's stock worth $22,783,000 after buying an additional 2,919 shares during the period. Finally, Lansing Street Advisors increased its stake in shares of Invesco QQQ by 6.7% during the second quarter. Lansing Street Advisors now owns 23,318 shares of the exchange traded fund's stock worth $12,877,000 after buying an additional 1,469 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ stock opened at $611.44 on Thursday. The company's 50 day moving average price is $582.26 and its 200 day moving average price is $534.45. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $611.75.

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 paid a dividend of $0.694 per share. The ex-dividend date 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 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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