Maridea Wealth Management LLC Decreases Position in Invesco QQQ $QQQ

Key Points

• Maridea Wealth Management LLC has reduced its holdings in Invesco QQQ by 6.0%, now owning 30,835 shares, which represents 4.4% of its portfolio and is their 3rd largest position.
• Invesco QQQ has announced an increase in its quarterly dividend to $0.694, which will be paid on October 31st, reflecting a positive change from its prior dividend of $0.59.
• The current trading price of Invesco QQQ shares is $593.53, with a twelve-month range between $402.39 and $602.87.

Maridea Wealth Management LLC decreased its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,835 shares of the exchange traded fund's stock after selling 1,960 shares during the period. Invesco QQQ makes up about 4.4% of Maridea Wealth Management LLC's portfolio, making the stock its 3rd biggest position. Maridea Wealth Management LLC's holdings in Invesco QQQ were worth $17,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Marshall & Sullivan Inc. WA bought a new stake in Invesco QQQ during the 2nd quarter worth $41,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the 1st quarter worth $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ during the 1st quarter worth $51,000. Blume Capital Management Inc. grew its position in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC grew its position in Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $593.53 on Friday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $602.87. The stock's fifty day simple moving average is $575.35 and its 200 day simple moving average is $526.62.

Invesco QQQ Increases Dividend

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

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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