Washington Growth Strategies LLC Acquires 14,762 Shares of Invesco QQQ $QQQ

Key Points

• Washington Growth Strategies LLC increased its holdings in Invesco QQQ by 3,147.5% during the second quarter, now owning a total of 15,231 shares worth approximately $8.4 million.
• Several other hedge funds also acquired new positions in Invesco QQQ, contributing to institutional investors owning 44.58% of the company's stock.
• Invesco QQQ announced a quarterly dividend increase to $0.694 per share, effective October 31st, up from the previous dividend of $0.59.

Washington Growth Strategies LLC lifted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 3,147.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,231 shares of the exchange traded fund's stock after purchasing an additional 14,762 shares during the period. Invesco QQQ comprises 6.4% of Washington Growth Strategies LLC's holdings, making the stock its 3rd biggest holding. Washington Growth Strategies LLC's holdings in Invesco QQQ were worth $8,402,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Marshall & Sullivan Inc. WA acquired a new position in shares of Invesco QQQ in the second quarter worth about $41,000. Alpine Bank Wealth Management acquired a new position in shares of Invesco QQQ in the first quarter worth about $50,000. Westend Capital Management LLC acquired a new position in shares of Invesco QQQ in the first quarter worth about $51,000. Blume Capital Management Inc. boosted its holdings in shares of Invesco QQQ by 105.0% in the first 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 period. Finally, Atlantic Private Wealth LLC boosted its holdings in shares of Invesco QQQ by 3,000.0% in the first 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 period. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Trading Down 0.4%

Shares of QQQ opened at $603.18 on Friday. Invesco QQQ has a one year low of $402.39 and a one year high of $607.33. The company has a 50-day moving average of $579.85 and a two-hundred day moving average of $532.17.

Invesco QQQ Increases Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.