Pacific Wealth Management Makes New $227,000 Investment in Invesco QQQ $QQQ

Key Points

• Pacific Wealth Management has acquired a new stake in Invesco QQQ, investing approximately $227,000 in 412 shares, making it the fund's 21st largest position.
• Invesco QQQ plans to increase its quarterly dividend to $0.694 per share, up from the previous $0.59, with a dividend yield of 0.5%.
• Shares of Invesco QQQ have seen a slight decrease of 0.4%, with a current price of $609.16, and a fifty-two week range between $402.39 and $613.18.

Pacific Wealth Management acquired a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 412 shares of the exchange traded fund's stock, valued at approximately $227,000. Invesco QQQ makes up about 0.1% of Pacific Wealth Management's holdings, making the stock its 21st biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Financial Services Inc increased its stake in Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock worth $2,345,000 after buying an additional 19 shares during the period. Vermillion Wealth Management Inc. grew its stake in Invesco QQQ by 4.2% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund's stock worth $271,000 after purchasing an additional 20 shares in the last quarter. Barrett & Company Inc. raised its position in Invesco QQQ by 14.9% in the 2nd quarter. Barrett & Company Inc. now owns 154 shares of the exchange traded fund's stock valued at $85,000 after purchasing an additional 20 shares in the last quarter. Investment Advisory Group LLC boosted its stake in shares of Invesco QQQ by 0.4% in the 2nd quarter. Investment Advisory Group LLC now owns 5,726 shares of the exchange traded fund's stock valued at $3,158,000 after buying an additional 20 shares during the period. Finally, waypoint wealth counsel grew its position in shares of Invesco QQQ by 0.6% during the second quarter. waypoint wealth counsel now owns 3,560 shares of the exchange traded fund's stock worth $1,964,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.4%

Shares of NASDAQ:QQQ opened at $609.16 on Wednesday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18. The firm's 50 day moving average price is $588.70 and its 200 day moving average price is $543.16.

Invesco QQQ Increases Dividend

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