Invesco QQQ $QQQ Shares Acquired by Lake Hills Wealth Management LLC

Key Points

• Lake Hills Wealth Management LLC increased its holdings in Invesco QQQ by 53.2%, acquiring 8,902 shares to own a total of 25,640 shares, making it their 3rd largest investment.
• Invesco QQQ has recently cut its quarterly dividend to $0.5911 per share, representing a 0.4% yield.
• The stock is currently valued at $590.00 with a one-year high of $592.86 and a low of $402.39.

Lake Hills Wealth Management LLC grew its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 53.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,640 shares of the exchange traded fund's stock after acquiring an additional 8,902 shares during the period. Invesco QQQ accounts for approximately 8.1% of Lake Hills Wealth Management LLC's investment portfolio, making the stock its 3rd biggest holding. Lake Hills Wealth Management LLC's holdings in Invesco QQQ were worth $14,144,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund's stock worth $11,300,023,000 after acquiring an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. acquired a new stake in Invesco QQQ during the 1st quarter worth about $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its holdings in Invesco QQQ by 1.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund's stock worth $1,501,063,000 after acquiring an additional 52,234 shares during the period. Commonwealth Equity Services LLC grew its holdings in Invesco QQQ by 2.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund's stock worth $1,163,036,000 after acquiring an additional 54,944 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Invesco QQQ by 55,795.2% during the 1st quarter. GAMMA Investing LLC now owns 1,871,929 shares of the exchange traded fund's stock worth $8,777,850,000 after acquiring an additional 1,868,580 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Performance

Shares of QQQ traded up $4.03 during trading hours on Friday, hitting $599.35. The stock had a trading volume of 58,129,765 shares, compared to its average volume of 47,115,312. The firm has a 50 day simple moving average of $572.19 and a 200-day simple moving average of $523.77. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $600.05.

Invesco QQQ Cuts Dividend

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

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.