Cerro Pacific Wealth Advisors LLC Acquires 8,033 Shares of Invesco QQQ $QQQ

Key Points

• Cerro Pacific Wealth Advisors LLC increased its stake in Invesco QQQ by 21.4% during Q2, acquiring an additional 8,033 shares, bringing total holdings to 45,657 shares valued at approximately $25.2 million.
• Invesco QQQ announced a quarterly dividend of $0.694 per share, which is an increase from its previous dividend of $0.59, reflecting a yield of 0.5%.
• The stock has experienced volatility, currently trading at around $589.55 after a drop of 3.5%, with a 1-year range of $402.39 to $613.18.

Cerro Pacific Wealth Advisors LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 21.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,657 shares of the exchange traded fund's stock after purchasing an additional 8,033 shares during the quarter. Invesco QQQ makes up about 7.0% of Cerro Pacific Wealth Advisors LLC's holdings, making the stock its biggest position. Cerro Pacific Wealth Advisors LLC's holdings in Invesco QQQ were worth $25,186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its stake in Invesco QQQ by 704,593.7% in 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 buying an additional 67,605,770 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Invesco QQQ by 959.6% in 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 buying an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. acquired a new position in Invesco QQQ in the 1st quarter valued at $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its stake in Invesco QQQ by 1.7% in 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 buying an additional 52,234 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Invesco QQQ by 2.3% in 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 buying an additional 54,944 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Down 3.5%

NASDAQ:QQQ opened at $589.55 on Monday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18. The firm's fifty day simple moving average is $583.89 and its 200 day simple moving average is $536.68.

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

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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