Hilltop Wealth Advisors LLC Buys New Position in Invesco QQQ $QQQ

Key Points

• Hilltop Wealth Advisors LLC has acquired 449 shares of Invesco QQQ, valued at approximately $248,000, during the second quarter.
• Institutional investors now hold 44.58% of Invesco QQQ's stock, with several firms, including Marshall & Sullivan Inc. and Atlantic Private Wealth LLC, recently increasing their stakes.
• The Invesco QQQ ETF is currently priced at $599.35, showing a twelve-month low of $402.39 and a high of $600.05.

Hilltop Wealth Advisors LLC bought a new stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 449 shares of the exchange traded fund's stock, valued at approximately $248,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Invesco QQQ by 3.5% in the 4th 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. Nuveen Asset Management LLC purchased a new stake in shares of Invesco QQQ during the fourth quarter worth $11,247,000. Vise Technologies Inc. grew its holdings in shares of Invesco QQQ by 145.2% during the fourth quarter. Vise Technologies Inc. now owns 2,766 shares of the exchange traded fund's stock worth $1,414,000 after buying an additional 1,638 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Invesco QQQ during the 4th quarter valued at about $754,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.7%

Shares of QQQ traded down $4.21 during mid-day trading on Tuesday, hitting $597.99. 44,149,699 shares of the company's stock were exchanged, compared to its average volume of 45,618,445. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $602.87. The stock's 50-day moving average is $573.11 and its 200-day moving average is $524.79.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued a $0.694 dividend. This is a positive change 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%.

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.