Invesco QQQ $QQQ Stake Raised by Ridgeline Wealth Planning LLC

Key Points

• Ridgeline Wealth Planning LLC has increased its stake in the Invesco QQQ ETF by 13.6% during the second quarter, now holding 10,998 shares valued at approximately $6.07 million.
• The Invesco QQQ announced a new quarterly dividend of $0.694 per share, representing an annualized increase from the previous dividend of $0.59.
• Other institutional investors have also raised their holdings in Invesco QQQ, with notable increases from GSG Advisors LLC and Amundi during recent quarters.

Ridgeline Wealth Planning LLC boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,998 shares of the exchange traded fund's stock after buying an additional 1,314 shares during the quarter. Invesco QQQ accounts for 5.0% of Ridgeline Wealth Planning LLC's investment portfolio, making the stock its 6th largest position. Ridgeline Wealth Planning LLC's holdings in Invesco QQQ were worth $6,067,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GSG Advisors LLC raised its position in Invesco QQQ by 8.2% in the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock valued at $3,600,000 after purchasing an additional 585 shares in the last quarter. Amundi increased its holdings in Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock valued at $49,980,000 after buying an additional 6,600 shares during the last quarter. Jackson Wealth Management LLC increased its holdings in shares of Invesco QQQ by 8.6% in the 1st quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund's stock valued at $9,428,000 after acquiring an additional 1,586 shares during the last quarter. Greykasell Wealth Strategies Inc. raised its holdings in Invesco QQQ by 8.4% during the first quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund's stock worth $3,649,000 after purchasing an additional 605 shares in the last quarter. Finally, AM Investment Strategies LLC raised its stake in Invesco QQQ by 46.5% during the 1st quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund's stock worth $904,000 after acquiring an additional 612 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ QQQ opened at $589.55 on Friday. The business has a 50-day moving average price of $583.89 and a 200 day moving average price of $535.94. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $613.18.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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.

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