Prostatis Group LLC Grows Holdings in Invesco QQQ $QQQ

Key Points

• Prostatis Group LLC increased its stake in Invesco QQQ by 73.9% during the 2nd quarter, making it the largest position in their investment portfolio, valued at approximately $34.27 million.
• Other institutional investors have also acquired stakes in Invesco QQQ, including Marshall & Sullivan Inc., which bought in for approximately $41,000.
• Invesco QQQ announced a quarterly dividend of $0.694, an increase from its previous dividend, which will be paid on October 31st, enhancing its annualized dividend yield to 0.5%.

Prostatis Group LLC grew its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 73.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,121 shares of the exchange traded fund's stock after buying an additional 26,400 shares during the period. Invesco QQQ accounts for about 9.8% of Prostatis Group LLC's investment portfolio, making the stock its largest position. Prostatis Group LLC's holdings in Invesco QQQ were worth $34,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of QQQ. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $51,000. Blume Capital Management Inc. raised its position in shares of Invesco QQQ by 105.0% during 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 during the last quarter. Finally, Atlantic Private Wealth LLC raised its position in shares of Invesco QQQ by 3,000.0% during 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 during the last quarter. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

QQQ stock opened at $589.55 on Monday. The firm has a fifty day moving average price of $583.89 and a 200 day moving average price of $536.68. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18.

Invesco QQQ Increases Dividend

The firm 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. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd.

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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