Smith Salley Wealth Management Has $2.50 Million Holdings in Invesco QQQ $QQQ

Key Points

• Smith Salley Wealth Management increased its holdings in Invesco QQQ by 38.6%, owning a total of 4,533 shares valued at $2.5 million as of its latest SEC filing.
• Invesco QQQ announced a quarterly dividend of $0.694, representing a yield of 0.5%, which is an increase from the previous dividend of $0.59.
• As of now, 44.58% of Invesco QQQ's stock is owned by institutional investors and hedge funds, indicating substantial interest from large financial entities.

Smith Salley Wealth Management raised its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 38.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,533 shares of the exchange traded fund's stock after buying an additional 1,262 shares during the quarter. Smith Salley Wealth Management's holdings in Invesco QQQ were worth $2,500,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Sendero Wealth Management LLC bought a new position in Invesco QQQ in the first quarter valued at about $273,000. GSG Advisors LLC lifted its stake in Invesco QQQ by 8.2% in the first quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock valued at $3,600,000 after buying an additional 585 shares during the period. Amundi lifted its stake in Invesco QQQ by 6.3% in the first quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock valued at $49,980,000 after buying an additional 6,600 shares during the period. Orser Capital Management LLC acquired a new position in Invesco QQQ in the first quarter valued at about $566,000. Finally, Jackson Wealth Management LLC lifted its stake in Invesco QQQ by 8.6% in the first quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund's stock valued at $9,428,000 after buying an additional 1,586 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $595.97 on Monday. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $602.87. The business's 50-day moving average price is $576.04 and its two-hundred day moving average price is $528.24.

Invesco QQQ Increases Dividend

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

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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