49 Wealth Management LLC Buys 13,637 Shares of Invesco QQQ $QQQ

49 Wealth Management LLC raised its position in Invesco QQQ (NASDAQ:QQQ) by 655.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,716 shares of the exchange traded fund’s stock after purchasing an additional 13,637 shares during the period. Invesco QQQ makes up about 0.9% of 49 Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding. 49 Wealth Management LLC’s holdings in Invesco QQQ were worth $8,670,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its holdings in shares of 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 purchasing an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Invesco QQQ by 959.6% in the first quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new position in Invesco QQQ during the first quarter worth $2,775,904,000. Northwestern Mutual Wealth Management Co. raised its position in Invesco QQQ by 1.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock worth $1,501,063,000 after acquiring an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Invesco QQQ by 2.3% during the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock worth $1,163,036,000 after acquiring an additional 54,944 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Trading Down 0.3%

Shares of NASDAQ:QQQ opened at $609.74 on Monday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $637.01. The company has a 50-day simple moving average of $601.34 and a 200 day simple moving average of $560.76.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, September 22nd were issued a dividend of $0.694 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.78 annualized dividend and a yield of 0.5%. This is a positive change 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.