McKinley Carter Wealth Services Inc. Raises Stock Position in Invesco QQQ $QQQ

Key Points

• McKinley Carter Wealth Services Inc. increased its stake in Invesco QQQ by 12.7%, owning 10,708 shares valued at approximately $5.9 million.
• Additional institutional investors, including GSG Advisors LLC and Amundi, have also raised their positions in Invesco QQQ, indicating robust interest from the institutional sector.
• Invesco QQQ announced a quarterly dividend increase to $0.694 from the previous $0.59, with an upcoming payment date of October 31.

McKinley Carter Wealth Services Inc. boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 12.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,708 shares of the exchange traded fund's stock after buying an additional 1,208 shares during the period. McKinley Carter Wealth Services Inc.'s holdings in Invesco QQQ were worth $5,907,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GSG Advisors LLC grew its position in shares of Invesco QQQ by 8.2% during the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock valued at $3,600,000 after purchasing an additional 585 shares in the last quarter. Amundi grew its position in shares of Invesco QQQ by 6.3% during the first quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock valued at $49,980,000 after purchasing an additional 6,600 shares in the last quarter. Jackson Wealth Management LLC grew its position in shares of Invesco QQQ by 8.6% during the first quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund's stock valued at $9,428,000 after purchasing an additional 1,586 shares in the last quarter. Greykasell Wealth Strategies Inc. grew its position in shares of Invesco QQQ by 8.4% during the first quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund's stock valued at $3,649,000 after purchasing an additional 605 shares in the last quarter. Finally, AM Investment Strategies LLC grew its position in shares of Invesco QQQ by 46.5% during the first quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund's stock valued at $904,000 after purchasing an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

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

Invesco QQQ Increases Dividend

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

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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