Nicholas Wealth LLC. Grows Stock Holdings in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Nicholas Wealth LLC. increased its stake in Invesco QQQ by 33.1%, owning a total of 3,694 shares valued at approximately $1,732,000 as of the end of the first quarter.
• Invesco QQQ announced a quarterly dividend of $0.5911 per share, which will be paid to stockholders on July 31, with an annualized dividend yield of 0.42%.
• Shares of Invesco QQQ traded at $566.37, with a 52-week range between $402.39 and $567.70, indicating a strong performance in the market.

Nicholas Wealth LLC. boosted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 33.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,694 shares of the exchange traded fund's stock after purchasing an additional 919 shares during the quarter. Invesco QQQ makes up 1.0% of Nicholas Wealth LLC.'s portfolio, making the stock its 18th biggest holding. Nicholas Wealth LLC.'s holdings in Invesco QQQ were worth $1,732,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of QQQ. Wilkins Miller Wealth Management LLC purchased a new position in Invesco QQQ during the fourth quarter worth $1,018,000. Grant Private Wealth Management Inc acquired a new position in Invesco QQQ in the 4th quarter valued at about $815,000. Gemsstock Ltd. raised its stake in Invesco QQQ by 266.4% in the 4th quarter. Gemsstock Ltd. now owns 293,500 shares of the exchange traded fund's stock valued at $150,046,000 after purchasing an additional 213,400 shares during the last quarter. Tandem Investment Partners LLC purchased a new position in Invesco QQQ in the 4th quarter valued at about $4,623,000. Finally, Wescott Financial Advisory Group LLC boosted its stake in shares of Invesco QQQ by 1.8% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 146,844 shares of the exchange traded fund's stock worth $75,071,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Invesco QQQ stock traded up $1.77 during trading on Monday, reaching $568.14. The company had a trading volume of 15,735,520 shares, compared to its average volume of 44,548,445. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $569.04. The stock's 50 day moving average price is $539.14 and its two-hundred day moving average price is $508.75.

Invesco QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 23rd will be issued a $0.5911 dividend. The ex-dividend date is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.42%.

Invesco QQQ 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.