Geneos Wealth Management Inc. Has $42.70 Million Stake in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Geneos Wealth Management Inc. increased its stake in Invesco QQQ by 50.9%, making it the firm's 7th largest position with holdings valued at approx. $42.7 million.
• Several institutional investors, including NWI Management LP and GAMMA Investing LLC, have significantly increased their holdings in Invesco QQQ, with GAMMA increasing its stake by an astonishing 55,795.2%.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, reflecting an annualized dividend yield of 0.42%.

Geneos Wealth Management Inc. boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 50.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,069 shares of the exchange traded fund's stock after acquiring an additional 30,721 shares during the quarter. Invesco QQQ accounts for about 1.1% of Geneos Wealth Management Inc.'s investment portfolio, making the stock its 7th largest holding. Geneos Wealth Management Inc.'s holdings in Invesco QQQ were worth $42,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ during the 4th quarter valued at approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Invesco QQQ in the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ in the 1st quarter worth approximately $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ in the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA bought a new position in shares of Invesco QQQ in the 4th quarter worth approximately $57,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 2.0%

Shares of NASDAQ:QQQ traded down $11.06 during trading on Friday, hitting $553.95. The stock had a trading volume of 55,959,957 shares, compared to its average volume of 44,864,859. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63. The firm's fifty day moving average is $543.12 and its 200 day moving average is $510.39.

Invesco QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 23rd.

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.