PPS&V Asset Management Consultants Inc. Boosts Position in Invesco QQQ $QQQ

Key Points

• PPS&V Asset Management Consultants Inc. increased its stake in Invesco QQQ by 5.9% during Q2, now owning 53,926 shares worth approximately $29.7 million.
• Institutional and hedge funds collectively hold 44.58% of Invesco QQQ's shares, with several firms acquiring new positions recently.
• The latest dividend announced for Invesco QQQ sits at $0.5911 per share, translating to an annualized yield of 0.4%.

PPS&V Asset Management Consultants Inc. boosted its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,926 shares of the exchange traded fund's stock after acquiring an additional 3,010 shares during the quarter. Invesco QQQ accounts for about 18.8% of PPS&V Asset Management Consultants Inc.'s portfolio, making the stock its 2nd largest position. PPS&V Asset Management Consultants Inc.'s holdings in Invesco QQQ were worth $29,748,000 at the end of the most recent quarter.

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

Invesco QQQ Stock Performance

QQQ opened at $591.68 on Tuesday. The company's fifty day moving average price is $569.03 and its two-hundred day moving average price is $521.27. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $591.79.

Invesco QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were issued a dividend of $0.5911 per share. The ex-dividend date was Monday, June 23rd. This represents a $2.36 annualized dividend and a yield of 0.4%.

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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