Wealth Management Partners LLC Raises Stake in Invesco QQQ $QQQ

Key Points

• Wealth Management Partners LLC increased its stake in Invesco QQQ by 8.9%, now owning 39,740 shares worth approximately $21.9 million.
• Institutional investors and hedge funds collectively hold 44.58% of Invesco QQQ stock, with several new stakes acquired in the second quarter.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, representing an annualized dividend yield of 0.4%.

Wealth Management Partners LLC lifted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,740 shares of the exchange traded fund's stock after purchasing an additional 3,257 shares during the period. Invesco QQQ comprises about 7.8% of Wealth Management Partners LLC's portfolio, making the stock its 2nd biggest holding. Wealth Management Partners LLC's holdings in Invesco QQQ were worth $21,938,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Skyline Advisors Inc. purchased a new stake in Invesco QQQ in the 2nd quarter valued at $217,000. Quantum Financial Advisors LLC lifted its holdings in Invesco QQQ by 397.0% in the 2nd quarter. Quantum Financial Advisors LLC now owns 2,773 shares of the exchange traded fund's stock valued at $1,530,000 after purchasing an additional 2,215 shares in the last quarter. Sprinkle Financial Consultants LLC lifted its holdings in Invesco QQQ by 3.6% in the 2nd quarter. Sprinkle Financial Consultants LLC now owns 1,560 shares of the exchange traded fund's stock valued at $861,000 after purchasing an additional 54 shares in the last quarter. Compass Ion Advisors LLC lifted its holdings in shares of Invesco QQQ by 5.2% during the 2nd quarter. Compass Ion Advisors LLC now owns 1,772 shares of the exchange traded fund's stock worth $978,000 after acquiring an additional 88 shares during the period. Finally, Halter Ferguson Financial Inc. lifted its holdings in shares of Invesco QQQ by 74.4% during the 2nd quarter. Halter Ferguson Financial Inc. now owns 106,050 shares of the exchange traded fund's stock worth $58,501,000 after acquiring an additional 45,257 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.7%

NASDAQ QQQ traded up $4.03 during mid-day trading on Friday, hitting $599.35. The company's stock had a trading volume of 58,129,765 shares, compared to its average volume of 47,450,008. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $600.05. The stock's fifty day simple moving average is $572.19 and its two-hundred day simple moving average is $524.01.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.4%.

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.