Invesco QQQ $QQQ is Chokshi & Queen Wealth Advisors Inc's 2nd Largest Position

Key Points

• Chokshi & Queen Wealth Advisors Inc increased its position in Invesco QQQ by 3.7% during Q2, making it their second-largest holding, with 59,920 shares valued at approximately $33 million.
• Invesco QQQ announced a dividend increase to $0.694 per share, up from $0.59, with an ex-dividend date of September 22.
• Institutional investors now own 44.58% of Invesco QQQ's stock, indicating increased interest and investment in the ETF.

Chokshi & Queen Wealth Advisors Inc increased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,920 shares of the exchange traded fund's stock after purchasing an additional 2,134 shares during the quarter. Invesco QQQ makes up about 18.9% of Chokshi & Queen Wealth Advisors Inc's investment portfolio, making the stock its 2nd largest holding. Chokshi & Queen Wealth Advisors Inc's holdings in Invesco QQQ were worth $33,054,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in QQQ. Morgan Dempsey Capital Management LLC purchased a new position in shares of Invesco QQQ in the 2nd quarter valued at approximately $30,000. Marshall & Sullivan Inc. WA bought a new position in Invesco QQQ during the 2nd quarter valued at approximately $41,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ during the 1st quarter valued at approximately $50,000. Westend Capital Management LLC bought a new position in Invesco QQQ during the 1st quarter valued at approximately $51,000. Finally, Blume Capital Management Inc. increased 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 valued at $57,000 after buying an additional 2,536 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.0%

QQQ stock opened at $611.38 on Wednesday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $613.18. The business has a 50 day moving average of $588.70 and a 200 day moving average of $543.16.

Invesco QQQ Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis 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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