Harbour Investments Inc. Grows Stock Position in Invesco QQQ $QQQ

Key Points

• Harbour Investments Inc. increased its stake in Invesco QQQ by 10.0%, holding a total of 261,408 shares valued at approximately $144 million as of its latest filing.
• Other institutional investors, including Cypress Wealth Services LLC and Innova Wealth Partners, also expanded their positions significantly in the second quarter, reflecting increased interest in the fund.
• The recent quarterly dividend announced by Invesco QQQ will be $0.694 per share, a raise from the previous dividend of $0.59, indicating a positive financial outlook.

Harbour Investments Inc. raised its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 261,408 shares of the exchange traded fund's stock after buying an additional 23,724 shares during the period. Invesco QQQ comprises about 3.7% of Harbour Investments Inc.'s portfolio, making the stock its 2nd biggest position. Harbour Investments Inc.'s holdings in Invesco QQQ were worth $144,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of Invesco QQQ by 0.5% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,928 shares of the exchange traded fund's stock valued at $3,270,000 after buying an additional 29 shares during the last quarter. Aries Wealth Management grew its position in shares of Invesco QQQ by 6.3% in the 2nd quarter. Aries Wealth Management now owns 3,511 shares of the exchange traded fund's stock valued at $1,937,000 after buying an additional 208 shares during the last quarter. JGP Wealth Management LLC grew its position in shares of Invesco QQQ by 12.6% in the 2nd quarter. JGP Wealth Management LLC now owns 1,601 shares of the exchange traded fund's stock valued at $883,000 after buying an additional 179 shares during the last quarter. Cypress Wealth Services LLC grew its position in shares of Invesco QQQ by 23.2% in the 2nd quarter. Cypress Wealth Services LLC now owns 6,531 shares of the exchange traded fund's stock valued at $3,603,000 after buying an additional 1,231 shares during the last quarter. Finally, Innova Wealth Partners boosted its position in shares of Invesco QQQ by 240.7% during the 2nd quarter. Innova Wealth Partners now owns 6,051 shares of the exchange traded fund's stock valued at $3,338,000 after purchasing an additional 4,275 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock opened at $598.00 on Wednesday. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18. The stock's 50-day moving average is $585.40 and its 200 day moving average is $538.03.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

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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