Udine Wealth Management Inc. Invests $260,000 in Invesco QQQ $QQQ

Key Points

• Udine Wealth Management Inc. has invested approximately $260,000 in Invesco QQQ by acquiring 472 shares during the 2nd quarter.
• Invesco QQQ recently increased its quarterly dividend to $0.694, up from $0.59, which results in an annualized dividend yield of 0.5%.
• As of the latest data, 44.58% of Invesco QQQ's stock is held by hedge funds and institutional investors, reflecting significant interest in the ETF among this sector.

Udine Wealth Management Inc. acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 472 shares of the exchange traded fund's stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently modified their holdings of QQQ. Marshall & Sullivan Inc. WA bought a new stake in Invesco QQQ in the 2nd quarter worth approximately $41,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ in the 1st quarter worth approximately $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ in the 1st quarter worth approximately $51,000. Blume Capital Management Inc. lifted its position in Invesco QQQ by 105.0% in the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund's stock worth $57,000 after buying an additional 2,536 shares during the last quarter. Finally, Atlantic Private Wealth LLC lifted its position in Invesco QQQ by 3,000.0% in the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund's stock worth $58,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $589.55 on Monday. The business has a 50 day moving average of $583.89 and a 200 day moving average of $536.68. Invesco QQQ has a 1-year low of $402.39 and a 1-year high of $613.18.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This is an increase from Invesco QQQ's previous quarterly dividend of $0.59. This represents a $2.78 annualized dividend and a yield of 0.5%.

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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