Hobbs Group Advisors LLC Raises Stake in Invesco QQQ $QQQ

Key Points

• Hobbs Group Advisors LLC increased its position in Invesco QQQ by 16.0%, owning 3,132 shares valued at $1,728,000 after adding 433 shares in the second quarter.
• Invesco QQQ recently declared a quarterly dividend increase to $0.694 per share from the previous $0.59, with a record date of September 22nd and an annualized yield of 0.5%.
• As of the latest report, 44.58% of Invesco QQQ's stock is owned by hedge funds and other institutional investors, indicating strong institutional interest.

Hobbs Group Advisors LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 16.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,132 shares of the exchange traded fund's stock after purchasing an additional 433 shares during the quarter. Hobbs Group Advisors LLC's holdings in Invesco QQQ were worth $1,728,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of QQQ. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ during the 2nd quarter worth approximately $41,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ during the 1st quarter worth approximately $51,000. Blume Capital Management Inc. lifted its position in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC lifted its position in Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $589.55 on Monday. The stock's 50 day moving average price is $583.89 and its 200 day moving average price is $536.68. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18.

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 is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend 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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