Invesco QQQ $QQQ Stock Position Increased by Innova Wealth Partners

Key Points

• Innova Wealth Partners increased its position in Invesco QQQ by 240.7% in Q2, now holding 6,051 shares worth approximately $3.34 million.
• Several institutional investors, including Brighton Jones LLC and Wealth Group Ltd., also expanded their stakes in Invesco QQQ, reflecting growing interest from 44.58% of institutional ownership.
• Invesco QQQ announced a quarterly dividend of $0.694, which is an increase from the previous dividend of $0.59, providing investors with a dividend yield of 0.5%.

Innova Wealth Partners lifted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 240.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,051 shares of the exchange traded fund's stock after buying an additional 4,275 shares during the period. Invesco QQQ makes up 2.0% of Innova Wealth Partners' holdings, making the stock its 18th largest position. Innova Wealth Partners' holdings in Invesco QQQ were worth $3,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of QQQ. Brighton Jones LLC raised its stake in shares of Invesco QQQ by 15.0% in the 4th quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund's stock worth $19,605,000 after buying an additional 4,989 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Invesco QQQ by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund's stock worth $2,687,000 after acquiring an additional 176 shares during the last quarter. Wealth Group Ltd. grew its holdings in shares of Invesco QQQ by 305.2% in the 1st quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund's stock worth $3,010,000 after acquiring an additional 4,835 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Invesco QQQ by 19.2% in the 1st quarter. GAMMA Investing LLC now owns 3,992 shares of the exchange traded fund's stock worth $1,872,000 after acquiring an additional 643 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC grew its holdings in shares of Invesco QQQ by 69.6% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 5,695 shares of the exchange traded fund's stock worth $2,670,000 after acquiring an additional 2,338 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $598.00 on Wednesday. The stock's fifty day simple moving average is $585.40 and its 200 day simple moving average is $538.03. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $613.18.

Invesco QQQ Increases Dividend

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

Invesco QQQ 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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