Dakota Wealth Management Has $47.25 Million Stock Holdings in Invesco QQQ $QQQ

Key Points

• Dakota Wealth Management increased its holdings in Invesco QQQ by 24.6%, owning 85,644 shares valued at approximately $47.25 million as of the latest SEC filing.
• Invesco QQQ has announced a quarterly dividend of $0.694 per share, marking an increase from its previous dividend of $0.59, with a yield of 0.5%.
• Institutional investors and hedge funds account for 44.58% of Invesco QQQ's stock ownership, indicating significant institutional interest in the ETF.

Dakota Wealth Management raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 24.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,644 shares of the exchange traded fund's stock after buying an additional 16,900 shares during the quarter. Invesco QQQ accounts for about 1.0% of Dakota Wealth Management's holdings, making the stock its 15th biggest position. Dakota Wealth Management's holdings in Invesco QQQ were worth $47,245,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Compass Financial Services Inc increased its stake in Invesco QQQ by 0.4% in the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after buying an additional 19 shares during the period. MTM Investment Management LLC increased its stake in Invesco QQQ by 1.6% in the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after buying an additional 21 shares during the period. Cutler Investment Counsel LLC increased its stake in Invesco QQQ by 1.4% in the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after buying an additional 21 shares during the period. Occidental Asset Management LLC lifted its stake in Invesco QQQ by 1.7% in the second quarter. Occidental Asset Management LLC now owns 1,230 shares of the exchange traded fund's stock valued at $678,000 after acquiring an additional 21 shares during the last quarter. Finally, Riverbend Wealth Management LLC lifted its stake in Invesco QQQ by 0.3% in the first quarter. Riverbend Wealth Management LLC now owns 8,172 shares of the exchange traded fund's stock valued at $3,832,000 after acquiring an additional 22 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.4%

NASDAQ QQQ opened at $593.53 on Friday. The company has a 50 day moving average price of $575.35 and a two-hundred day moving average price of $526.62. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $602.87.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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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