Fifth Third Securities Inc. Has $59.05 Million Stake in Invesco QQQ $QQQ

Key Points

• Fifth Third Securities Inc. increased its stake in Invesco QQQ by 19.0% in the second quarter, holding 107,041 shares valued at approximately $59.05 million, representing 4.4% of its total portfolio.
• Invesco QQQ announced a quarterly dividend of $0.694, marking an increase from the previous $0.59, with a yield of 0.5% and a payment date set for October 31st.
• As of the latest data, 44.58% of Invesco QQQ's stock is owned by institutional investors, indicating strong institutional interest in the ETF.

Fifth Third Securities Inc. lifted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 19.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,041 shares of the exchange traded fund's stock after acquiring an additional 17,074 shares during the quarter. Invesco QQQ accounts for 4.4% of Fifth Third Securities Inc.'s portfolio, making the stock its 2nd largest position. Fifth Third Securities Inc.'s holdings in Invesco QQQ were worth $59,048,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Compass Financial Services Inc lifted its stake in shares of Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock worth $2,345,000 after acquiring an additional 19 shares during the last quarter. Vermillion Wealth Management Inc. lifted its position in shares of Invesco QQQ by 4.2% during the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock worth $271,000 after purchasing an additional 20 shares during the last quarter. MTM Investment Management LLC boosted its stake in shares of Invesco QQQ by 1.6% during the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after purchasing an additional 21 shares during the period. Cutler Investment Counsel LLC grew its holdings in shares of Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after purchasing an additional 21 shares during the last quarter. Finally, Occidental Asset Management LLC increased its stake in Invesco QQQ by 1.7% in the 2nd quarter. Occidental Asset Management LLC now owns 1,230 shares of the exchange traded fund's stock worth $678,000 after buying an additional 21 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 0.5%

Shares of QQQ opened at $598.73 on Tuesday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87. The company has a 50-day moving average of $576.73 and a 200 day moving average of $529.07.

Invesco QQQ Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend 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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