Cypress Wealth Services LLC Grows Position in Invesco QQQ $QQQ

Key Points

• Cypress Wealth Services LLC increased its stake in Invesco QQQ by 23.2% in Q2, raising its total shares to 6,531, valued at $3.6 million.
• Invesco QQQ announced a quarterly dividend of $0.694, reflecting an increase from the previous dividend of $0.59, with a yield of 0.5%.
• As of the latest data, hedge funds and institutional investors own 44.58% of Invesco QQQ stock, indicating significant institutional interest.

Cypress Wealth Services LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 23.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,531 shares of the exchange traded fund's stock after purchasing an additional 1,231 shares during the quarter. Cypress Wealth Services LLC's holdings in Invesco QQQ were worth $3,603,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Compass Financial Services Inc boosted its stake in shares of Invesco QQQ by 0.4% during the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after purchasing an additional 19 shares during the period. Vermillion Wealth Management Inc. lifted its stake in Invesco QQQ by 4.2% in the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock worth $271,000 after acquiring an additional 20 shares during the period. Barrett & Company Inc. lifted its stake in Invesco QQQ by 14.9% in the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund's stock worth $85,000 after acquiring an additional 20 shares during the period. Investment Advisory Group LLC lifted its stake in Invesco QQQ by 0.4% in the second quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund's stock worth $3,158,000 after acquiring an additional 20 shares during the period. Finally, waypoint wealth counsel lifted its stake in Invesco QQQ by 0.6% in the second quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund's stock worth $1,964,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.7%

Shares of QQQ stock opened at $598.00 on Wednesday. The stock has a fifty day moving average of $585.40 and a 200 day moving average of $538.03. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently declared 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. 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 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.

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