Invesco QQQ $QQQ Shares Purchased by CWC Advisors LLC.

Key Points

• CWC Advisors LLC increased its stake in Invesco QQQ by 15.6%, resulting in ownership of 6,857 shares valued at approximately $3.78 million.
• Other hedge funds, notably Worth Asset Management LLC, made significant increases in their positions in Invesco QQQ, with Worth Asset Management increasing its holdings by 652%.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, with an annualized yield of 0.4%.

CWC Advisors LLC. boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,857 shares of the exchange traded fund's stock after purchasing an additional 926 shares during the period. Invesco QQQ comprises approximately 2.0% of CWC Advisors LLC.'s holdings, making the stock its 17th largest position. CWC Advisors LLC.'s holdings in Invesco QQQ were worth $3,783,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new stake in Invesco QQQ in the second quarter valued at about $12,498,000. Worth Asset Management LLC boosted its stake in shares of Invesco QQQ by 652.0% during the 2nd quarter. Worth Asset Management LLC now owns 24,756 shares of the exchange traded fund's stock worth $13,656,000 after acquiring an additional 21,464 shares in the last quarter. Security National Bank boosted its stake in shares of Invesco QQQ by 28.7% during the 2nd quarter. Security National Bank now owns 2,662 shares of the exchange traded fund's stock worth $1,468,000 after acquiring an additional 594 shares in the last quarter. ARS Wealth Advisors Group LLC purchased a new stake in shares of Invesco QQQ during the 2nd quarter worth approximately $1,027,000. Finally, Redhawk Wealth Advisors Inc. boosted its stake in shares of Invesco QQQ by 62.9% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 18,597 shares of the exchange traded fund's stock worth $10,259,000 after acquiring an additional 7,181 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ traded up $2.85 during trading on Monday, hitting $602.20. 57,065,386 shares of the stock were exchanged, compared to its average volume of 47,450,008. The company has a fifty day moving average price of $573.11 and a two-hundred day moving average price of $524.79. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $602.87.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.694 per share. 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. This represents a $2.78 annualized dividend and a dividend yield of 0.5%.

About Invesco QQQ

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.