Invesco QQQ $QQQ is Virtus Wealth Solutions LLC's 3rd Largest Position

Key Points

• Virtus Wealth Solutions LLC increased its holdings in Invesco QQQ by 32.6% in Q2, making it the firm's 3rd largest position at approximately 13.2% of its portfolio.
• The recent dividend for Invesco QQQ has been raised to $0.694 per share, reflecting an annualized dividend yield of 0.5%.
• Shares of Invesco QQQ are currently trading at $598.00, with a 12 month low of $402.39 and a high of $613.18.

Virtus Wealth Solutions LLC grew its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 32.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,803 shares of the exchange traded fund's stock after purchasing an additional 28,442 shares during the period. Invesco QQQ makes up approximately 13.2% of Virtus Wealth Solutions LLC's investment portfolio, making the stock its 3rd biggest position. Virtus Wealth Solutions LLC's holdings in Invesco QQQ were worth $63,881,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ in the second quarter worth about $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ during the first quarter worth $51,000. Blume Capital Management Inc. grew its stake in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC raised its stake in shares of Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.7%

Shares of QQQ opened at $598.00 on Wednesday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18. The stock has a fifty day moving average price of $585.40 and a 200-day moving average price of $538.03.

Invesco QQQ Increases Dividend

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

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.

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.