Shulman DeMeo Asset Management LLC Buys New Position in Invesco QQQ $QQQ

Key Points

• Shulman DeMeo Asset Management LLC has acquired a new position in Invesco QQQ, purchasing 43,707 shares valued at approximately $24.1 million, making it the firm's second largest holding.
• Invesco QQQ's recent quarterly dividend increased to $0.694 from a previous $0.59, with the annualized yield now at 0.5%.
• The stock has shown significant volatility over the past year, with a low of $402.39 and a high of $602.87.

Shulman DeMeo Asset Management LLC purchased a new stake in Invesco QQQ (NASDAQ:QQQ - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,707 shares of the exchange traded fund's stock, valued at approximately $24,110,000. Invesco QQQ comprises about 6.0% of Shulman DeMeo Asset Management LLC's holdings, making the stock its 2nd biggest holding.

Several other large investors have also bought and sold shares of QQQ. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ in the 2nd quarter valued at about $41,000. Alpine Bank Wealth Management bought a new position in shares of Invesco QQQ in the first quarter valued at approximately $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter valued at approximately $51,000. Blume Capital Management Inc. lifted its holdings in Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after acquiring an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC boosted its position in 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 worth $58,000 after purchasing an additional 120 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ opened at $596.10 on Thursday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $602.87. The business has a fifty day moving average price of $574.71 and a two-hundred day moving average price of $525.78.

Invesco QQQ Increases Dividend

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

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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