SeaCrest Wealth Management LLC Has $18.19 Million Stake in Invesco QQQ $QQQ

Key Points

• SeaCrest Wealth Management LLC increased its holdings in Invesco QQQ by 9.2% in Q2, owning 32,980 shares valued at approximately $18.2 million.
• Invesco QQQ recently cut its quarterly dividend to $0.5911, equating to an annualized dividend of $2.36 and a yield of 0.4%.
• 44.58% of Invesco QQQ's shares are currently held by hedge funds and other institutional investors, indicating significant institutional interest in the ETF.

SeaCrest Wealth Management LLC grew its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,980 shares of the exchange traded fund's stock after acquiring an additional 2,765 shares during the period. Invesco QQQ comprises approximately 2.0% of SeaCrest Wealth Management LLC's investment portfolio, making the stock its 8th biggest position. SeaCrest Wealth Management LLC's holdings in Invesco QQQ were worth $18,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in QQQ. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ in the 1st quarter worth about $51,000. Blume Capital Management Inc. raised its position in shares of 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 buying an additional 2,536 shares in the last quarter. Atlantic Private Wealth LLC grew its stake in shares of Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after purchasing an additional 120 shares during the last quarter. Finally, Putney Financial Group LLC purchased a new position in Invesco QQQ during the fourth quarter valued at approximately $67,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ:QQQ traded down $1.25 during trading hours on Tuesday, hitting $600.95. 21,466,181 shares of the company traded hands, compared to its average volume of 45,498,469. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $602.87. The firm has a 50-day moving average of $573.11 and a 200 day moving average of $524.79.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be paid a $0.694 dividend. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd.

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.