Salem Investment Counselors Inc. Has $3.56 Million Stake in Invesco QQQ $QQQ

Key Points

• Salem Investment Counselors Inc. increased its stake in Invesco QQQ by 9.9%, owning 6,448 shares valued at $3.56 million as of the second quarter.
• Other institutional investors, including Life Line Wealth Management and Centurion Wealth Management, have also significantly increased their positions in Invesco QQQ during the same period.
• Invesco QQQ recently declared a quarterly dividend of $0.5911 per share, yielding approximately 0.4% annually.

Salem Investment Counselors Inc. grew its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,448 shares of the exchange traded fund's stock after purchasing an additional 581 shares during the quarter. Salem Investment Counselors Inc.'s holdings in Invesco QQQ were worth $3,561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Life Line Wealth Management LLC grew its position in shares of Invesco QQQ by 606.4% in the second quarter. Life Line Wealth Management LLC now owns 83,648 shares of the exchange traded fund's stock valued at $46,143,000 after purchasing an additional 71,806 shares during the last quarter. Centurion Wealth Management LLC grew its position in shares of Invesco QQQ by 35.8% in the second quarter. Centurion Wealth Management LLC now owns 3,132 shares of the exchange traded fund's stock valued at $1,728,000 after purchasing an additional 826 shares during the last quarter. Taylor & Morgan Wealth Management LLC grew its position in shares of Invesco QQQ by 0.7% in the second quarter. Taylor & Morgan Wealth Management LLC now owns 8,032 shares of the exchange traded fund's stock valued at $4,431,000 after purchasing an additional 57 shares during the last quarter. Wilson & Boucher Capital Management LLC grew its position in shares of Invesco QQQ by 2.2% in the second quarter. Wilson & Boucher Capital Management LLC now owns 1,898 shares of the exchange traded fund's stock valued at $1,047,000 after purchasing an additional 41 shares during the last quarter. Finally, TrueWealth Advisors LLC grew its position in shares of Invesco QQQ by 0.5% in the second quarter. TrueWealth Advisors LLC now owns 20,652 shares of the exchange traded fund's stock valued at $11,392,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Price Performance

Shares of NASDAQ:QQQ opened at $591.68 on Tuesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $591.79. The business's 50 day simple moving average is $569.03 and its 200 day simple moving average is $521.27.

Invesco QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 23rd were given a dividend of $0.5911 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%.

Invesco QQQ 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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