SVB Wealth LLC Purchases 3,393 Shares of Invesco QQQ $QQQ

Key Points

• SVB Wealth LLC has increased its holdings in Invesco QQQ by 20% during the first quarter, now owning a total of 20,382 shares worth approximately $9.56 million.
• Other institutional investors, such as Marshall & Sterling Wealth Advisors and Blume Capital Management, have also recently acquired new positions in Invesco QQQ.
• Invesco QQQ announced a quarterly dividend of $0.5911, translating to an annualized dividend of $2.36 and a yield of 0.4%.

SVB Wealth LLC increased its position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,382 shares of the exchange traded fund's stock after buying an additional 3,393 shares during the period. SVB Wealth LLC's holdings in Invesco QQQ were worth $9,558,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Invesco QQQ during the 4th quarter valued at $36,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ during the 1st quarter valued at $51,000. Banque Transatlantique SA acquired a new position in Invesco QQQ during the 4th quarter valued at $57,000. Finally, Blume Capital Management Inc. raised its stake in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock valued at $57,000 after purchasing an additional 2,536 shares during the last quarter. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $571.97 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $583.32. The firm has a fifty day moving average of $557.92 and a 200-day moving average of $515.81.

Invesco QQQ Cuts Dividend

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

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.

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