Wedmont Private Capital Increases Holdings in Invesco QQQ (NASDAQ:QQQ)

Wedmont Private Capital lifted its holdings in Invesco QQQ (NASDAQ:QQQ) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,708 shares of the exchange traded fund’s stock after purchasing an additional 718 shares during the period. Invesco QQQ comprises about 0.6% of Wedmont Private Capital’s portfolio, making the stock its 29th largest holding. Wedmont Private Capital’s holdings in Invesco QQQ were worth $9,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in Invesco QQQ during the first quarter worth about $28,000. Deane Retirement Strategies Inc. purchased a new position in shares of Invesco QQQ during the 1st quarter worth $29,000. Legacy Bridge LLC raised its holdings in Invesco QQQ by 800.0% in the 1st quarter. Legacy Bridge LLC now owns 72 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 64 shares during the period. Voisard Asset Management Group Inc. acquired a new position in Invesco QQQ in the fourth quarter valued at about $35,000. Finally, Red Tortoise LLC boosted its stake in Invesco QQQ by 370.0% during the fourth quarter. Red Tortoise LLC now owns 94 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 74 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

Shares of QQQ traded up $10.50 during trading on Tuesday, reaching $461.88. 25,605,191 shares of the company traded hands, compared to its average volume of 41,014,082. The stock has a 50-day simple moving average of $473.75 and a 200-day simple moving average of $450.67. Invesco QQQ has a twelve month low of $342.35 and a twelve month high of $503.52.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were given a $0.7615 dividend. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 24th. This represents a $3.05 dividend on an annualized basis and a yield of 0.66%.

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.