Invesco QQQ $QQQ Stock Position Lifted by Modern Wealth Management LLC

Key Points

• Modern Wealth Management LLC increased its holdings in Invesco QQQ by 7.2%, owning a total of 86,867 shares valued at approximately $40.7 million.
• Invesco QQQ stock recently showed a slight increase of 0.6%, with shares opening at $584.08 and ranging between a 52-week low of $402.39 and a high of $584.88.
• The company announced a quarterly dividend of $0.5911 per share, representing an annualized yield of 0.4%.

Modern Wealth Management LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,867 shares of the exchange traded fund's stock after purchasing an additional 5,853 shares during the quarter. Invesco QQQ accounts for approximately 1.3% of Modern Wealth Management LLC's holdings, making the stock its 16th largest position. Modern Wealth Management LLC's holdings in Invesco QQQ were worth $40,734,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Willis Johnson & Associates Inc. grew its stake in shares of Invesco QQQ by 2.6% in the fourth quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock worth $416,000 after purchasing an additional 21 shares in the last quarter. MTM Investment Management LLC grew its stake in shares of Invesco QQQ by 1.6% in the first quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock worth $613,000 after purchasing an additional 21 shares in the last quarter. Cutler Investment Counsel LLC grew its stake in shares of Invesco QQQ by 1.4% in the first quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock worth $710,000 after purchasing an additional 21 shares in the last quarter. Mosaic Family Wealth Partners LLC grew its stake in shares of Invesco QQQ by 1.6% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,382 shares of the exchange traded fund's stock worth $707,000 after purchasing an additional 22 shares in the last quarter. Finally, Riverbend Wealth Management LLC grew its stake in shares of Invesco QQQ by 0.3% in the first quarter. Riverbend Wealth Management LLC now owns 8,172 shares of the exchange traded fund's stock worth $3,832,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.6%

Shares of QQQ stock opened at $584.08 on Friday. The stock has a 50-day simple moving average of $567.63 and a 200 day simple moving average of $519.99. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $584.88.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

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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