M1 Capital Management LLC Has $6.94 Million Holdings in Invesco QQQ $QQQ

Key Points

• M1 Capital Management LLC increased its holdings in Invesco QQQ by 235.5%, now owning 12,583 shares valued at approximately $6.94 million.
• The recent quarterly dividend for Invesco QQQ is $0.694 per share, reflecting an increase from the previous dividend of $0.59, with an annualized yield of 0.5%.
• As of the latest data, institutional investors hold 44.58% of Invesco QQQ's stock, indicating significant interest from larger financial entities.

M1 Capital Management LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 235.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,583 shares of the exchange traded fund's stock after purchasing an additional 8,832 shares during the quarter. Invesco QQQ makes up 3.5% of M1 Capital Management LLC's investment portfolio, making the stock its 8th largest position. M1 Capital Management LLC's holdings in Invesco QQQ were worth $6,941,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the business. Compass Financial Services Inc boosted its position in shares of Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after acquiring an additional 19 shares during the last quarter. Vermillion Wealth Management Inc. boosted its position in shares of Invesco QQQ by 4.2% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock valued at $271,000 after acquiring an additional 20 shares during the last quarter. Barrett & Company Inc. boosted its position in shares of Invesco QQQ by 14.9% during the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund's stock valued at $85,000 after acquiring an additional 20 shares during the last quarter. MTM Investment Management LLC boosted its position in shares of Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after acquiring an additional 21 shares during the last quarter. Finally, Cutler Investment Counsel LLC boosted its position in shares of Invesco QQQ by 1.4% during the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Trading Down 3.5%

Shares of QQQ opened at $589.55 on Friday. The stock has a 50-day moving average price of $583.89 and a 200-day moving average price of $535.94. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $613.18.

Invesco QQQ Increases Dividend

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

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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