Greykasell Wealth Strategies Inc. Boosts Stake in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Greykasell Wealth Strategies Inc. increased its stake in Invesco QQQ by 8.4% this quarter, owning 7,782 shares valued at approximately $3.65 million.
• Several institutional investors also expanded their holdings, with 44.58% of the company’s stock now owned by institutional investors and hedge funds.
• Invesco QQQ recently announced a quarterly dividend of $0.5911, resulting in an annualized dividend yield of 0.4%.

Greykasell Wealth Strategies Inc. raised its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,782 shares of the exchange traded fund's stock after purchasing an additional 605 shares during the quarter. Invesco QQQ accounts for approximately 1.9% of Greykasell Wealth Strategies Inc.'s portfolio, making the stock its 15th largest holding. Greykasell Wealth Strategies Inc.'s holdings in Invesco QQQ were worth $3,649,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of QQQ. Legacy Investment Solutions LLC raised its position in Invesco QQQ by 8.2% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock valued at $138,000 after purchasing an additional 20 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its position in Invesco QQQ by 0.3% during 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 purchasing an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. lifted its holdings in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after purchasing an additional 21 shares during the last quarter. MTM Investment Management LLC increased its stake in Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after purchasing an additional 21 shares in the last quarter. Finally, Cutler Investment Counsel LLC lifted its holdings in shares of Invesco QQQ by 1.4% during the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after purchasing an additional 21 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.3%

Invesco QQQ stock traded up $1.92 during midday trading on Thursday, hitting $569.24. 44,049,632 shares of the company were exchanged, compared to its average volume of 44,292,076. The business has a fifty day simple moving average of $546.86 and a two-hundred day simple moving average of $511.70. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $574.63.

Invesco QQQ Cuts Dividend

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

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.