Invesco QQQ $QQQ Shares Bought by Essex Financial Services Inc.

Key Points

• Essex Financial Services Inc. increased its stake in Invesco QQQ by 3.2%, owning nearly 100,000 shares worth approximately $55 million, making it the firm's second-largest holding.
• Invesco QQQ announced a quarterly dividend of $0.694 per share, up from the previous $0.59, with a yield of 0.5% for shareholders recorded on September 22.
• Significant institutional investment activity was observed, with firms like Brighton Jones LLC and NorthCrest Asset Management increasing their holdings in Invesco QQQ by 15% and 8.7%, respectively, during the fourth quarter.

Essex Financial Services Inc. lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,862 shares of the exchange traded fund's stock after buying an additional 3,076 shares during the quarter. Invesco QQQ comprises approximately 3.6% of Essex Financial Services Inc.'s investment portfolio, making the stock its 2nd largest holding. Essex Financial Services Inc.'s holdings in Invesco QQQ were worth $55,088,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Invesco QQQ by 15.0% during the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock valued at $19,605,000 after purchasing an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after buying an additional 176 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in Invesco QQQ by 8.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 8,409 shares of the exchange traded fund's stock worth $4,299,000 after buying an additional 671 shares during the last quarter. Avant Financial Advisors LLC acquired a new position in Invesco QQQ during the fourth quarter worth $465,000. Finally, Life Line Wealth Management LLC acquired a new position in Invesco QQQ during the fourth quarter worth $55,030,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

QQQ opened at $593.53 on Friday. The company's fifty day moving average price is $575.35 and its two-hundred day moving average price is $526.62. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 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.

Want to see what other hedge funds are holding QQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invesco QQQ (NASDAQ:QQQ - Free Report).

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.