Invesco QQQ (NASDAQ:QQQ) is Total Investment Management Inc.'s 10th Largest Position

Key Points

• Total Investment Management Inc. significantly increased its stake in Invesco QQQ by 2,025.5%, acquiring over 50,000 additional shares, making it the fund's 10th largest position.
• As of its latest SEC filing, Total Investment Management Inc. holds 52,755 shares of Invesco QQQ, valued at approximately $24.7 million.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, translating to an annual yield of 0.4%.

Total Investment Management Inc. raised its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 2,025.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,755 shares of the exchange traded fund's stock after buying an additional 50,273 shares during the quarter. Invesco QQQ comprises about 3.2% of Total Investment Management Inc.'s investment portfolio, making the stock its 10th biggest holding. Total Investment Management Inc.'s holdings in Invesco QQQ were worth $24,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in QQQ. Legacy Investment Solutions LLC lifted its position in shares of Invesco QQQ by 8.2% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock valued at $138,000 after acquiring an additional 20 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its position in shares of Invesco QQQ by 0.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after acquiring an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. lifted its position in shares of Invesco QQQ by 2.6% in the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after acquiring an additional 21 shares in the last quarter. MTM Investment Management LLC lifted its position in shares of Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after acquiring an additional 21 shares in the last quarter. Finally, Cutler Investment Counsel LLC lifted its position in shares of Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Up 1.8%

NASDAQ:QQQ opened at $564.10 on Tuesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63. The business's 50-day moving average is $545.11 and its 200 day moving average is $510.97.

Invesco QQQ Cuts Dividend

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

Invesco QQQ Company 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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