Private Client Services LLC Acquires 2,395 Shares of Invesco QQQ $QQQ

Key Points

• Private Client Services LLC increased its holding in Invesco QQQ by 28.7%, now owning 10,737 shares valued at approximately $5.9 million.
• Invesco QQQ's price range over the past year has been from a low of $402.39 to a high of $587.86, reflecting significant volatility.
• The company announced a quarterly dividend of $0.5911, resulting in an annualized dividend yield of 0.4%.

Private Client Services LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 28.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,737 shares of the exchange traded fund's stock after purchasing an additional 2,395 shares during the period. Invesco QQQ comprises approximately 2.3% of Private Client Services LLC's investment portfolio, making the stock its 6th biggest holding. Private Client Services LLC's holdings in Invesco QQQ were worth $5,923,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QQQ. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ in the first quarter valued at $50,000. Westend Capital Management LLC bought a new position in shares of Invesco QQQ in the first quarter valued at $51,000. Blume Capital Management Inc. grew its stake in shares of Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after buying an additional 2,536 shares in the last quarter. Atlantic Private Wealth LLC grew its stake in shares of Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after buying an additional 120 shares in the last quarter. Finally, Putney Financial Group LLC bought a new position in shares of Invesco QQQ in the fourth quarter valued at $67,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $586.66 on Friday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $587.86. The firm has a fifty day simple moving average of $568.24 and a 200 day simple moving average of $520.50.

Invesco QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 annualized dividend and a dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.