Invesco QQQ $QQQ is Traction Financial Partners LLC's 2nd Largest Position

Key Points

• Traction Financial Partners LLC increased its holdings in Invesco QQQ by 2.8% during the second quarter, making it the firm's second largest position with a total investment of $14,544,000.
• Other institutional investors are also active in Invesco QQQ, with notable purchases and increases in stakes, indicating a growing interest in the ETF among hedge funds.
• Invesco QQQ has declared an increase in its quarterly dividend to $0.694 per share, reflecting a shift from the previous dividend and representing an annualized yield of 0.5%.

Traction Financial Partners LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,365 shares of the exchange traded fund's stock after acquiring an additional 721 shares during the period. Invesco QQQ makes up 9.9% of Traction Financial Partners LLC's portfolio, making the stock its 2nd biggest position. Traction Financial Partners LLC's holdings in Invesco QQQ were worth $14,544,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in QQQ. Sendero Wealth Management LLC purchased a new position in Invesco QQQ in the first quarter valued at about $273,000. GSG Advisors LLC grew its stake in shares of Invesco QQQ by 8.2% in the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock valued at $3,600,000 after buying an additional 585 shares in the last quarter. Amundi raised its holdings in shares of Invesco QQQ by 6.3% during the 1st quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock valued at $49,980,000 after buying an additional 6,600 shares during the period. Orser Capital Management LLC purchased a new stake in shares of Invesco QQQ during the 1st quarter valued at about $566,000. Finally, Jackson Wealth Management LLC lifted its position in Invesco QQQ by 8.6% during the 1st quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund's stock worth $9,428,000 after acquiring an additional 1,586 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $598.20 on Wednesday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $602.87. The business has a 50 day moving average price of $573.94 and a two-hundred day moving average price of $525.30.

Invesco QQQ Increases Dividend

The company also recently declared 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 of this dividend is Monday, September 22nd. This is a positive change from Invesco QQQ's previous quarterly dividend of $0.59.

Invesco QQQ Company 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.

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