24,384 Shares in Invesco QQQ $QQQ Purchased by Oliver Lagore Vanvalin Investment Group

Key Points

• Oliver Lagore Vanvalin Investment Group has made a significant investment of $13.45 million in Invesco QQQ, acquiring 24,384 shares, which now accounts for 4.8% of its investment portfolio.
• The price of Invesco QQQ shares has increased by 0.9%, with a current trading price of $595.32, marking a notable rise from its 12-month low of $402.39.
• Invesco QQQ recently announced a quarterly dividend of $0.5911 per share, resulting in an annualized dividend of $2.36 and a yield of 0.4%.

Oliver Lagore Vanvalin Investment Group bought a new position in Invesco QQQ (NASDAQ:QQQ - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 24,384 shares of the exchange traded fund's stock, valued at approximately $13,451,000. Invesco QQQ comprises approximately 4.8% of Oliver Lagore Vanvalin Investment Group's portfolio, making the stock its 3rd biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wilkins Miller Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the 4th quarter worth $1,018,000. Sendero Wealth Management LLC acquired a new stake in shares of Invesco QQQ in the 1st quarter worth $273,000. Griffith & Werner Inc. acquired a new stake in shares of Invesco QQQ in the 4th quarter worth $583,000. GSG Advisors LLC increased its stake in shares of Invesco QQQ by 8.2% in the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock worth $3,600,000 after acquiring an additional 585 shares during the last quarter. Finally, Amundi increased its stake in shares of Invesco QQQ by 6.3% in the 1st quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock worth $49,980,000 after acquiring an additional 6,600 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.5%

Shares of NASDAQ:QQQ traded up $2.85 during midday trading on Monday, reaching $602.20. 57,065,386 shares of the company's stock were exchanged, compared to its average volume of 47,450,008. The firm's 50 day simple moving average is $573.11 and its two-hundred day simple moving average is $524.79. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $602.87.

Invesco QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be given a dividend of $0.694 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. 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.

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.