LMG Wealth Partners LLC Increases Position in Invesco QQQ $QQQ

LMG Wealth Partners LLC increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 497 shares of the exchange traded fund’s stock after acquiring an additional 43 shares during the quarter. LMG Wealth Partners LLC’s holdings in Invesco QQQ were worth $274,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC raised its holdings in Invesco QQQ by 704,593.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock valued at $37,299,340,000 after acquiring an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after acquiring an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new stake in shares of Invesco QQQ in the 1st quarter worth about $2,775,904,000. Spear Holdings RSC Ltd acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at about $474,600,000. Finally, Altimeter Capital Management LP acquired a new stake in shares of Invesco QQQ in the 1st quarter valued at about $463,293,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.7%

NASDAQ:QQQ opened at $603.93 on Monday. Invesco QQQ has a one year low of $402.39 and a one year high of $613.18. The stock has a 50-day simple moving average of $587.30 and a 200 day simple moving average of $541.36.

Invesco QQQ Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a $0.694 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend 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.