Tepp RIA LLC Raises Stock Holdings in Invesco QQQ $QQQ

Key Points

• Tepp RIA LLC has increased its stake in **Invesco QQQ** by **18.0%** in the second quarter, now holding approximately **$14.53 million** worth of shares, making QQQ its third largest investment.
• Invesco QQQ announced an increase in its quarterly dividend to **$0.694** per share, up from **$0.59**, resulting in an annualized yield of **0.5%**.
• As of now, **44.58%** of Invesco QQQ's stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the ETF.

Tepp RIA LLC boosted its stake in Invesco QQQ (NASDAQ:QQQ - Free Report) by 18.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,339 shares of the exchange traded fund's stock after purchasing an additional 4,027 shares during the quarter. Invesco QQQ comprises 18.8% of Tepp RIA LLC's investment portfolio, making the stock its 3rd biggest position. Tepp RIA LLC's holdings in Invesco QQQ were worth $14,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of QQQ. Compass Financial Services Inc raised its position in Invesco QQQ by 0.4% during the first quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund's stock valued at $2,345,000 after purchasing an additional 19 shares in the last quarter. MTM Investment Management LLC increased its stake in shares of Invesco QQQ by 1.6% in 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 during the last quarter. Cutler Investment Counsel LLC increased its stake in shares of Invesco QQQ by 1.4% in 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 during the last quarter. Occidental Asset Management LLC raised its holdings in shares of Invesco QQQ by 1.7% during the 2nd quarter. Occidental Asset Management LLC now owns 1,230 shares of the exchange traded fund's stock worth $678,000 after buying an additional 21 shares in the last quarter. Finally, Riverbend Wealth Management LLC lifted its position in shares of Invesco QQQ by 0.3% during the 1st quarter. Riverbend Wealth Management LLC now owns 8,172 shares of the exchange traded fund's stock worth $3,832,000 after buying an additional 22 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.5%

NASDAQ:QQQ opened at $602.20 on Tuesday. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $602.87. The stock's 50-day simple moving average is $573.11 and its 200 day simple moving average is $524.79.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is an increase 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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