Invesco QQQ $QQQ is Fairway Wealth LLC's 5th Largest Position

Key Points

• Fairway Wealth LLC has increased its stake in Invesco QQQ by 38.6%, making it the firm's 5th largest position, valued at approximately $23.3 million.
• Invesco QQQ recently announced a dividend increase to $0.694 per share, up from the previous $0.59, with a 0.5% yield.
• The stock's current share price is $603.93, with a 12-month range between $402.39 and $613.18.

Fairway Wealth LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 38.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,213 shares of the exchange traded fund's stock after buying an additional 11,746 shares during the period. Invesco QQQ accounts for approximately 5.4% of Fairway Wealth LLC's portfolio, making the stock its 5th largest position. Fairway Wealth LLC's holdings in Invesco QQQ were worth $23,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Compass Financial Services Inc increased its stake in shares of Invesco QQQ by 0.4% during the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after purchasing an additional 19 shares in the last quarter. Vermillion Wealth Management Inc. increased its stake in shares of Invesco QQQ by 4.2% during the second quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock valued at $271,000 after purchasing an additional 20 shares in the last quarter. Barrett & Company Inc. increased its stake in shares of Invesco QQQ by 14.9% during the second quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund's stock valued at $85,000 after purchasing an additional 20 shares in the last quarter. Investment Advisory Group LLC increased its stake in shares of Invesco QQQ by 0.4% during the second quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund's stock valued at $3,158,000 after purchasing an additional 20 shares in the last quarter. Finally, waypoint wealth counsel increased its stake in shares of Invesco QQQ by 0.6% during the second quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund's stock valued at $1,964,000 after purchasing an additional 20 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ opened at $603.93 on Monday. The firm has a 50 day moving average of $587.30 and a 200 day moving average of $541.36. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $613.18.

Invesco QQQ Increases Dividend

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

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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.