Linscomb Wealth Inc. Increases Stake in Invesco QQQ (NASDAQ:QQQ)

Linscomb Wealth Inc. lifted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,802 shares of the exchange traded fund's stock after purchasing an additional 726 shares during the quarter. Linscomb Wealth Inc.'s holdings in Invesco QQQ were worth $4,127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Bridge Generations Wealth Management LLC acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management acquired a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $50,000. Westend Capital Management LLC acquired a new stake in shares of Invesco QQQ during the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Invesco QQQ during the 4th quarter worth approximately $57,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Invesco QQQ stock opened at $574.55 on Monday. The company's fifty day moving average price is $549.00 and its 200 day moving average price is $512.09. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.77.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a $0.5911 dividend. The ex-dividend date was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a 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.

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