SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co Buys 3,187 Shares of Invesco QQQ (NASDAQ:QQQ)

Key Points

• SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co increased its investment in Invesco QQQ by 123.7%, acquiring an additional 3,187 shares to bring its total holding to 5,764 shares.
• Invesco QQQ's quarterly dividend was recently announced, with shareholders receiving $0.5911 per share, reflecting an annualized dividend of $2.36 and a yield of 0.4%.
• Institutional investors currently own 44.58% of Invesco QQQ's stock, indicating significant interest from larger investment firms.

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 123.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,764 shares of the exchange traded fund's stock after buying an additional 3,187 shares during the period. Invesco QQQ accounts for approximately 2.8% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's holdings, making the stock its 15th largest holding. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's holdings in Invesco QQQ were worth $2,720,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in QQQ. Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of Invesco QQQ by 0.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock worth $3,080,000 after buying an additional 20 shares in the last quarter. Willis Johnson & Associates Inc. increased its holdings in Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after purchasing an additional 21 shares in the last quarter. MTM Investment Management LLC increased its holdings in Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund's stock valued at $613,000 after purchasing an additional 21 shares in the last quarter. Cutler Investment Counsel LLC increased its holdings in Invesco QQQ by 1.4% during the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund's stock valued at $710,000 after purchasing an additional 21 shares in the last quarter. Finally, Tobias Financial Advisors Inc. increased its holdings in Invesco QQQ by 2.8% during the 4th quarter. Tobias Financial Advisors Inc. now owns 812 shares of the exchange traded fund's stock valued at $415,000 after purchasing an additional 22 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 0.1%

Shares of NASDAQ QQQ traded down $0.45 during midday trading on Thursday, hitting $579.89. The stock had a trading volume of 45,140,701 shares, compared to its average volume of 44,808,402. The company's 50-day simple moving average is $552.08 and its 200 day simple moving average is $513.33. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32.

Invesco QQQ Cuts Dividend

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

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.