U.S. Capital Wealth Advisors LLC Has $34.71 Million Stock Holdings in Invesco QQQ $QQQ

Key Points

• U.S. Capital Wealth Advisors LLC reduced its stake in Invesco QQQ by 14.7%, owning 62,914 shares valued at $34,706,000, making it their 12th largest position.
• Invesco QQQ has a current price of $599.35, with a twelve-month low of $402.39 and a high of $600.05.
• The company will distribute a quarterly dividend of $0.694 per share, marking a positive increase from the previous dividend of $0.59.

U.S. Capital Wealth Advisors LLC reduced its holdings in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,914 shares of the exchange traded fund's stock after selling 10,848 shares during the quarter. Invesco QQQ accounts for about 1.0% of U.S. Capital Wealth Advisors LLC's investment portfolio, making the stock its 12th largest holding. U.S. Capital Wealth Advisors LLC's holdings in Invesco QQQ were worth $34,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the first quarter valued at about $50,000. Westend Capital Management LLC acquired a new stake in Invesco QQQ in the first quarter worth about $51,000. Blume Capital Management Inc. raised 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 worth $57,000 after buying an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC increased its stake in shares of 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 acquiring an additional 120 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Invesco QQQ Stock Up 0.5%

Shares of QQQ traded up $2.85 during midday trading on Monday, reaching $602.20. The stock had a trading volume of 57,065,386 shares, compared to its average volume of 47,450,008. The firm's 50 day moving average price is $573.11 and its 200-day moving average price is $524.79. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $602.87.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a boost from Invesco QQQ's previous quarterly dividend of $0.59.

Invesco QQQ 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.