WFA Asset Management Corp Raises Stock Position in Invesco QQQ $QQQ

Key Points

• WFA Asset Management Corp raised its stake in Invesco QQQ by 43.2%, owning a total of 6,555 shares now valued at approximately $3.6 million.
• Invesco QQQ recently announced an increase in its quarterly dividend to $0.694 per share, up from $0.59, with a dividend yield of 0.5%.
• Shares of Invesco QQQ were trading at $608.22, having seen a 12-month low of $402.39 and a high of $613.18.

WFA Asset Management Corp boosted its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 43.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,555 shares of the exchange traded fund's stock after purchasing an additional 1,978 shares during the period. Invesco QQQ makes up about 2.1% of WFA Asset Management Corp's portfolio, making the stock its 14th biggest position. WFA Asset Management Corp's holdings in Invesco QQQ were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. GSG Advisors LLC grew its position in Invesco QQQ by 8.2% during the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund's stock worth $3,600,000 after purchasing an additional 585 shares during the last quarter. Amundi lifted its stake in Invesco QQQ by 6.3% during the 1st quarter. Amundi now owns 110,903 shares of the exchange traded fund's stock valued at $49,980,000 after acquiring an additional 6,600 shares during the period. Jackson Wealth Management LLC lifted its stake in Invesco QQQ by 8.6% during the 1st quarter. Jackson Wealth Management LLC now owns 20,105 shares of the exchange traded fund's stock valued at $9,428,000 after acquiring an additional 1,586 shares during the period. Greykasell Wealth Strategies Inc. lifted its stake in Invesco QQQ by 8.4% during the 1st quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund's stock valued at $3,649,000 after acquiring an additional 605 shares during the period. Finally, AM Investment Strategies LLC lifted its stake in Invesco QQQ by 46.5% during the 1st quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund's stock valued at $904,000 after acquiring an additional 612 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

Invesco QQQ Stock Performance

Shares of NASDAQ QQQ opened at $608.22 on Thursday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $613.18. The company has a 50 day simple moving average of $589.20 and a two-hundred day simple moving average of $543.59.

Invesco QQQ Increases Dividend

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

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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