Invesco QQQ $QQQ Position Raised by Retirement Guys Formula LLC

Key Points

• Retirement Guys Formula LLC increased its stake in Invesco QQQ by 13.1%, owning 9,433 shares worth approximately $5.2 million, making the ETF their 9th largest investment.
• Invesco QQQ recently announced a quarterly dividend of $0.694, which is an increase from the previous $0.59, representing an annual yield of 0.5%.
• Several other institutional investors also raised their positions in Invesco QQQ, with notable increases in holdings from Brighton Jones LLC and Revolve Wealth Partners LLC in the fourth quarter.

Retirement Guys Formula LLC lifted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,433 shares of the exchange traded fund's stock after buying an additional 1,094 shares during the period. Invesco QQQ makes up 2.0% of Retirement Guys Formula LLC's portfolio, making the stock its 9th biggest position. Retirement Guys Formula LLC's holdings in Invesco QQQ were worth $5,203,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of QQQ. Brighton Jones LLC boosted its position in Invesco QQQ by 15.0% in the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after purchasing an additional 4,989 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Invesco QQQ by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after purchasing an additional 176 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its position in Invesco QQQ by 8.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 8,409 shares of the exchange traded fund's stock worth $4,299,000 after purchasing an additional 671 shares during the last quarter. Avant Financial Advisors LLC purchased a new position in Invesco QQQ in the fourth quarter worth about $465,000. Finally, Life Line Wealth Management LLC purchased a new position in Invesco QQQ in the fourth quarter worth about $55,030,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $593.53 on Friday. The stock's 50-day simple moving average is $575.35 and its two-hundred day simple moving average is $526.62. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $602.87.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a $0.694 dividend. 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. This represents a $2.78 annualized dividend 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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