Oxinas Partners Wealth Management LLC Has $6.99 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Oxinas Partners Wealth Management LLC increased its stake in Invesco QQQ by 20.6%, owning 12,664 shares currently valued at approximately $6.99 million.
• Several other institutional investors also raised their positions in Invesco QQQ during the second quarter, with hedge funds owning 44.58% of the company's stock.
• Invesco QQQ announced a quarterly dividend increase to $0.694 per share, up from the previous $0.59, resulting in an annualized yield of 0.5%.

Oxinas Partners Wealth Management LLC lifted its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 20.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,664 shares of the exchange traded fund's stock after purchasing an additional 2,164 shares during the period. Invesco QQQ comprises 3.6% of Oxinas Partners Wealth Management LLC's investment portfolio, making the stock its 5th largest holding. Oxinas Partners Wealth Management LLC's holdings in Invesco QQQ were worth $6,986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Palumbo Wealth Management LLC raised its holdings in Invesco QQQ by 3.2% in the 2nd quarter. Palumbo Wealth Management LLC now owns 11,213 shares of the exchange traded fund's stock valued at $6,186,000 after buying an additional 344 shares during the last quarter. McAdam LLC increased its position in Invesco QQQ by 10.8% in the 2nd quarter. McAdam LLC now owns 3,711 shares of the exchange traded fund's stock valued at $2,047,000 after acquiring an additional 361 shares during the period. Surience Private Wealth LLC bought a new position in shares of Invesco QQQ during the second quarter valued at $11,744,000. Xcel Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 6.7% during the second quarter. Xcel Wealth Management LLC now owns 3,394 shares of the exchange traded fund's stock worth $1,872,000 after purchasing an additional 213 shares during the period. Finally, Pitti Group Wealth Management LLC grew its stake in shares of Invesco QQQ by 2.5% in the second quarter. Pitti Group Wealth Management LLC now owns 1,318 shares of the exchange traded fund's stock worth $727,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ QQQ opened at $596.10 on Thursday. The stock has a fifty day simple moving average of $574.71 and a 200 day simple moving average of $525.78. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $602.87.

Invesco QQQ Increases Dividend

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

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.

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