Invesco QQQ $QQQ Shares Bought by Sagace Wealth Management LLC

Key Points

• Sagace Wealth Management LLC increased its stake in Invesco QQQ by 37.4% during Q2, holding 3,907 shares valued at approximately $2.15 million.
• Invesco QQQ's board announced a quarterly dividend of $0.694 per share, increasing from the previous $0.59, reflecting a yield of 0.5%.
• As of the latest filings, institutional investors own 44.58% of Invesco QQQ, with several hedge funds recently increasing their positions in the ETF.

Sagace Wealth Management LLC boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 37.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,907 shares of the exchange traded fund's stock after purchasing an additional 1,063 shares during the period. Invesco QQQ makes up approximately 1.6% of Sagace Wealth Management LLC's portfolio, making the stock its 24th biggest holding. Sagace Wealth Management LLC's holdings in Invesco QQQ were worth $2,155,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Financial Services Inc raised its position in shares of Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after buying an additional 19 shares during the period. Vermillion Wealth Management Inc. raised its position in shares of Invesco QQQ by 4.2% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock valued at $271,000 after buying an additional 20 shares during the period. Barrett & Company Inc. raised its position in shares of Invesco QQQ by 14.9% during the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund's stock valued at $85,000 after buying an additional 20 shares during the period. Investment Advisory Group LLC raised its position in shares of Invesco QQQ by 0.4% during the 2nd quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund's stock valued at $3,158,000 after buying an additional 20 shares during the period. Finally, waypoint wealth counsel raised its position in shares of Invesco QQQ by 0.6% during the 2nd quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund's stock valued at $1,964,000 after buying an additional 20 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.7%

QQQ stock opened at $602.22 on Thursday. The firm's 50 day moving average price is $586.10 and its 200-day moving average price is $538.48. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18.

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 dividend on an annualized basis 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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