Invesco QQQ $QQQ Stake Increased by Herbst Group LLC

Key Points

• Herbst Group LLC increased its stake in Invesco QQQ by 8.6%, making it the fund's largest position, valued at approximately $7.69 million.
• Invesco QQQ reported a quarterly dividend of $0.694, marking an increase from the previous dividend of $0.59, with a dividend yield of 0.5%.
• The stock has a one-year high of $602.87 and a one-year low of $402.39, currently trading at $593.53.

Herbst Group LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 8.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,937 shares of the exchange traded fund's stock after acquiring an additional 1,106 shares during the quarter. Invesco QQQ accounts for about 4.6% of Herbst Group LLC's investment portfolio, making the stock its largest position. Herbst Group LLC's holdings in Invesco QQQ were worth $7,688,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA bought a new position in Invesco QQQ in the 2nd quarter worth about $41,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ during the 1st quarter valued at about $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ during the 1st quarter valued at about $51,000. Blume Capital Management Inc. grew its position in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC grew its position in 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 during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $593.53 on Friday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $602.87. The stock's 50 day simple moving average is $575.35 and its 200 day simple moving average is $526.62.

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 given a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59.

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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