Redhawk Wealth Advisors Inc. Raises Position in Invesco QQQ $QQQ

Key Points

• Redhawk Wealth Advisors Inc. increased its position in Invesco QQQ by 62.9% during Q2, owning over 18,000 shares valued at approximately $10.3 million.
• Goldman Sachs Group Inc. made a significant boost of 959.6% to its holdings in Invesco QQQ during Q1, reaching over 24 million shares worth about $11.3 billion.
• Invesco QQQ's dividend yield stands at 0.4%, with a recently announced quarterly dividend of $0.5911 paid to investors of record on June 23.

Redhawk Wealth Advisors Inc. increased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 62.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,597 shares of the exchange traded fund's stock after acquiring an additional 7,181 shares during the quarter. Invesco QQQ comprises about 1.3% of Redhawk Wealth Advisors Inc.'s investment portfolio, making the stock its 14th largest position. Redhawk Wealth Advisors Inc.'s holdings in Invesco QQQ were worth $10,259,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ in the first quarter worth approximately $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ during the 1st quarter worth approximately $51,000. Blume Capital Management Inc. grew its stake in shares of Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after buying an additional 2,536 shares during the last quarter. Atlantic Private Wealth LLC lifted its holdings in shares of 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 valued at $58,000 after buying an additional 120 shares during the period. Finally, Putney Financial Group LLC purchased a new stake in shares of Invesco QQQ in the 4th quarter worth $67,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of Invesco QQQ stock traded up $2.58 on Monday, hitting $601.93. 31,627,236 shares of the company traded hands, compared to its average volume of 45,487,484. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $601.75. The stock's 50 day moving average price is $572.19 and its 200-day moving average price is $524.01.

Invesco QQQ Increases Dividend

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

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.