Raleigh Capital Management Inc. Boosts Stake in Invesco QQQ $QQQ

Key Points

• Raleigh Capital Management Inc. significantly increased its stake in Invesco QQQ by 356,500%, owning 3,566 shares valued at approximately $1.97 million at the end of the reporting period.
• Invesco QQQ recently announced a quarterly dividend of $0.694, an increase from its previous dividend of $0.59, with an annualized yield of 0.5%.
• Raleigh Capital is not alone in boosting stakes, as several institutional investors, including LexAurum Advisors LLC and Janney Montgomery Scott LLC, have also increased their holdings in Invesco QQQ during the same quarter.

Raleigh Capital Management Inc. raised its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 356,500.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,566 shares of the exchange traded fund's stock after acquiring an additional 3,565 shares during the period. Raleigh Capital Management Inc.'s holdings in Invesco QQQ were worth $1,967,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. LexAurum Advisors LLC grew its position in Invesco QQQ by 12.8% during the second quarter. LexAurum Advisors LLC now owns 12,623 shares of the exchange traded fund's stock valued at $6,963,000 after acquiring an additional 1,435 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Invesco QQQ by 6.6% in the second quarter. Janney Montgomery Scott LLC now owns 894,107 shares of the exchange traded fund's stock worth $493,225,000 after buying an additional 55,554 shares during the period. Elser Financial Planning Inc boosted its position in shares of Invesco QQQ by 67.2% in the second quarter. Elser Financial Planning Inc now owns 863 shares of the exchange traded fund's stock worth $481,000 after buying an additional 347 shares during the period. Cyr Financial Inc. purchased a new stake in shares of Invesco QQQ in the second quarter worth about $5,689,000. Finally, Avondale Wealth Management boosted its position in shares of Invesco QQQ by 5.9% in the second quarter. Avondale Wealth Management now owns 33,668 shares of the exchange traded fund's stock worth $18,573,000 after buying an additional 1,888 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Up 0.5%

Shares of NASDAQ QQQ opened at $598.73 on Tuesday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87. The business has a 50-day moving average of $576.73 and a 200-day moving average of $529.07.

Invesco QQQ Increases Dividend

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

Invesco QQQ Company Profile

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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