Highline Wealth Partners LLC Has $4 Million Position in Invesco QQQ $QQQ

Key Points

• Highline Wealth Partners LLC reduced its position in Invesco QQQ by 36.5% during the 2nd quarter, now holding 7,258 shares valued at approximately $4 million.
• Invesco QQQ recently declared an increased quarterly dividend of $0.694 per share, reflecting a boost from the previous quarter's dividend.
• Currently, 44.58% of Invesco QQQ's stock is owned by institutional investors and hedge funds, indicating strong interest in the fund.

Highline Wealth Partners LLC reduced its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 36.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,258 shares of the exchange traded fund's stock after selling 4,165 shares during the period. Invesco QQQ comprises about 1.2% of Highline Wealth Partners LLC's investment portfolio, making the stock its 25th largest holding. Highline Wealth Partners LLC's holdings in Invesco QQQ were worth $4,004,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new position in shares of Invesco QQQ during the second quarter worth about $41,000. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ during the first quarter worth about $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ during the first quarter valued at approximately $51,000. Blume Capital Management Inc. boosted its position in Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC boosted its position in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after purchasing an additional 120 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $595.97 on Friday. The stock has a 50 day moving average price of $576.04 and a 200 day moving average price of $527.48. 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 declared 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 yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd.

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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