Proathlete Wealth Management LLC Purchases 828 Shares of Invesco QQQ $QQQ

Key Points

• Proathlete Wealth Management LLC increased its stake in Invesco QQQ by 3.0%, making it the 5th largest holding in their portfolio valued at approximately $15.93 million.
• Invesco QQQ recently announced an increase in its quarterly dividend to $0.694 per share, which reflects an annual yield of 0.5%.
• As of the latest trading, Invesco QQQ's stock opened at $599.35, within a 52-week range of $402.39 to $600.05.

Proathlete Wealth Management LLC boosted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,848 shares of the exchange traded fund's stock after purchasing an additional 828 shares during the quarter. Invesco QQQ accounts for about 5.1% of Proathlete Wealth Management LLC's investment portfolio, making the stock its 5th biggest holding. Proathlete Wealth Management LLC's holdings in Invesco QQQ were worth $15,930,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its stake in shares of Invesco QQQ by 704,593.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund's stock valued at $37,299,340,000 after purchasing an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ during the first quarter valued at approximately $2,775,904,000. Northwestern Mutual Wealth Management Co. raised its holdings in Invesco QQQ by 1.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock worth $1,501,063,000 after purchasing an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Invesco QQQ by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock valued at $1,163,036,000 after buying an additional 54,944 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.5%

Shares of QQQ stock traded up $2.85 during trading hours on Monday, reaching $602.20. 57,065,386 shares of the company traded hands, compared to its average volume of 47,450,008. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $602.87. The firm has a 50-day moving average price of $573.11 and a 200 day moving average price of $524.79.

Invesco QQQ Increases Dividend

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

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.