Evolution Wealth Management Inc. Purchases Shares of 2,129 Invesco QQQ $QQQ

Evolution Wealth Management Inc. acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,129 shares of the exchange traded fund’s stock, valued at approximately $1,174,000. Invesco QQQ makes up approximately 1.4% of Evolution Wealth Management Inc.’s portfolio, making the stock its 11th biggest holding.

A number of other hedge funds have also modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock valued at $19,605,000 after acquiring an additional 4,989 shares during the period. Revolve Wealth Partners LLC grew its position in Invesco QQQ by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after purchasing an additional 176 shares in the last quarter. Nuveen LLC purchased a new position in Invesco QQQ during the 1st quarter worth approximately $10,316,000. Russell Investments Group Ltd. raised its stake in Invesco QQQ by 42.7% during the 1st quarter. Russell Investments Group Ltd. now owns 4,093 shares of the exchange traded fund’s stock valued at $1,919,000 after purchasing an additional 1,224 shares during the period. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Invesco QQQ during the 1st quarter valued at $212,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Invesco QQQ Stock Down 1.9%

Shares of Invesco QQQ stock opened at $613.62 on Monday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $637.01. The business has a fifty day simple moving average of $613.64 and a 200-day simple moving average of $581.01.

Invesco QQQ Increases Dividend

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