Invesco QQQ $QQQ Shares Bought by Strait & Sound Wealth Management LLC

Key Points

• Strait & Sound Wealth Management LLC increased its stake in Invesco QQQ by 13.9% during the first quarter, owning 7,301 shares valued at approximately $3.42 million.
• Other institutional investors also made significant adjustments, including Alpine Bank Wealth Management acquiring a new position worth $50,000 and Westend Capital Management purchasing a stake valued at $51,000.
• Invesco QQQ's recent dividend was set at $0.5911 per share, resulting in an annualized dividend of $2.36 and a yield of 0.4%.

Strait & Sound Wealth Management LLC increased its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 13.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,301 shares of the exchange traded fund's stock after buying an additional 891 shares during the quarter. Invesco QQQ comprises approximately 1.6% of Strait & Sound Wealth Management LLC's portfolio, making the stock its 14th biggest holding. Strait & Sound Wealth Management LLC's holdings in Invesco QQQ were worth $3,424,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of QQQ. Caxton Associates LLP purchased a new stake in Invesco QQQ during the first quarter valued at about $1,694,000. Signature Estate & Investment Advisors LLC lifted its stake in shares of Invesco QQQ by 2.6% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 28,368 shares of the exchange traded fund's stock valued at $13,302,000 after purchasing an additional 731 shares in the last quarter. Kestra Investment Management LLC lifted its stake in shares of Invesco QQQ by 855.5% in the 1st quarter. Kestra Investment Management LLC now owns 3,411 shares of the exchange traded fund's stock valued at $1,599,000 after purchasing an additional 3,054 shares in the last quarter. Coordinated Financial Services Inc. CO purchased a new stake in shares of Invesco QQQ during the 1st quarter worth about $1,668,000. Finally, Talon Private Wealth LLC increased its position in Invesco QQQ by 1,763.6% during the 1st quarter. Talon Private Wealth LLC now owns 9,113 shares of the exchange traded fund's stock worth $4,301,000 after purchasing an additional 8,624 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Trading Up 0.3%

QQQ stock traded up $1.64 during midday trading on Tuesday, reaching $580.51. 43,715,098 shares of the company's stock traded hands, compared to its average volume of 46,346,500. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $583.32. The business has a 50-day moving average price of $566.46 and a two-hundred day moving average price of $519.13.

Invesco QQQ Cuts Dividend

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

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.