Triumph Capital Management Has $6.85 Million Holdings in Invesco QQQ $QQQ

Key Points

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Triumph Capital Management increased its position in Invesco QQQ (NASDAQ:QQQ - Free Report) by 59.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,419 shares of the exchange traded fund's stock after acquiring an additional 4,649 shares during the period. Invesco QQQ comprises about 2.1% of Triumph Capital Management's investment portfolio, making the stock its 8th biggest holding. Triumph Capital Management's holdings in Invesco QQQ were worth $6,851,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of QQQ. Alpine Bank Wealth Management bought a new stake in Invesco QQQ during the first quarter valued at about $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ during the first quarter valued at about $51,000. Blume Capital Management Inc. grew its holdings in Invesco QQQ by 105.0% during the first 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 period. Atlantic Private Wealth LLC grew its holdings in Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock valued at $58,000 after purchasing an additional 120 shares during the period. Finally, Putney Financial Group LLC bought a new stake in Invesco QQQ during the fourth quarter valued at about $67,000. Institutional investors own 44.58% of the company's stock.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $591.68 on Tuesday. The stock has a 50-day simple moving average of $569.03 and a two-hundred day simple moving average of $521.27. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $591.79.

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 given a $0.5911 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 23rd.

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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