Tradition Wealth Management LLC Has $15.84 Million Stock Position in Invesco QQQ $QQQ

Key Points

• Tradition Wealth Management LLC increased its holdings in Invesco QQQ by 1.9%, acquiring an additional 618 shares in the first quarter, bringing its total to 33,783 shares valued at approximately $15.8 million.
• Institutional investors and hedge funds currently own about 44.58% of Invesco QQQ stock, indicating significant institutional interest in the fund.
• The latest dividend declared was $0.5911 per share, representing a 0.4% annualized yield, with the ex-dividend date set for June 23rd.

Tradition Wealth Management LLC boosted its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,783 shares of the exchange traded fund's stock after purchasing an additional 618 shares during the quarter. Invesco QQQ comprises about 1.4% of Tradition Wealth Management LLC's portfolio, making the stock its 18th biggest holding. Tradition Wealth Management LLC's holdings in Invesco QQQ were worth $15,841,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QQQ. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Invesco QQQ in the 4th quarter valued at $36,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the 1st quarter valued at $51,000. Banque Transatlantique SA bought a new stake in shares of Invesco QQQ during the 4th quarter valued at $57,000. Finally, Blume Capital Management Inc. lifted its position in shares of 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 acquiring an additional 2,536 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Performance

Shares of NASDAQ:QQQ traded up $8.69 during trading on Friday, reaching $571.97. 51,413,030 shares of the company traded hands, compared to its average volume of 46,061,000. The company's 50 day moving average is $557.92 and its two-hundred day moving average is $515.81. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $583.32.

Invesco QQQ Cuts Dividend

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

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.