First United Bank & Trust Acquires 924 Shares of Invesco QQQ $QQQ

Key Points

• First United Bank & Trust increased its stake in Invesco QQQ by 2.7%, acquiring an additional 924 shares, bringing its total holdings to 34,756 shares, valued at approximately $19.17 million.
• Invesco QQQ recently announced a dividend increase, rising from $0.59 to $0.694 per share, with an annualized yield of 0.5%.
• Institutional investors and hedge funds own 44.58% of Invesco QQQ stock, signaling significant interest from large investment firms.

First United Bank & Trust boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,756 shares of the exchange traded fund's stock after buying an additional 924 shares during the period. Invesco QQQ makes up about 6.7% of First United Bank & Trust's holdings, making the stock its biggest position. First United Bank & Trust's holdings in Invesco QQQ were worth $19,173,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of QQQ. Brighton Jones LLC grew its stake in shares of Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares in the last quarter. LVW Advisors LLC raised its holdings in shares of Invesco QQQ by 22.8% during the 1st quarter. LVW Advisors LLC now owns 755 shares of the exchange traded fund's stock valued at $354,000 after purchasing an additional 140 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of Invesco QQQ by 22.9% in the 1st quarter. Elevation Wealth Partners LLC now owns 708 shares of the exchange traded fund's stock valued at $332,000 after purchasing an additional 132 shares during the last quarter. Finally, Affiance Financial LLC raised its holdings in Invesco QQQ by 2.6% during the first quarter. Affiance Financial LLC now owns 3,565 shares of the exchange traded fund's stock valued at $1,672,000 after buying an additional 92 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.3%

QQQ opened at $600.37 on Wednesday. The stock has a 50-day moving average of $577.51 and a 200-day moving average of $529.57. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $602.87.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a $0.694 dividend. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd. This represents a $2.78 annualized dividend 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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