Invesco QQQ (NASDAQ:QQQ) is Zimmermann Investment Management & Planning LLC’s Largest Position

Zimmermann Investment Management & Planning LLC grew its position in Invesco QQQ (NASDAQ:QQQ) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,224 shares of the exchange traded fund’s stock after buying an additional 1,636 shares during the period. Invesco QQQ accounts for about 8.0% of Zimmermann Investment Management & Planning LLC’s portfolio, making the stock its largest position. Zimmermann Investment Management & Planning LLC’s holdings in Invesco QQQ were worth $24,063,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in Invesco QQQ by 40,957.3% in the 4th quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after acquiring an additional 28,263,426 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Invesco QQQ in the first quarter worth about $1,580,776,000. Steel Grove Capital Advisors LLC lifted its holdings in shares of Invesco QQQ by 934.0% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Granite Bay Wealth Management LLC lifted its holdings in shares of Invesco QQQ by 6,215.5% during the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. purchased a new stake in Invesco QQQ in the first quarter valued at approximately $304,591,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ traded down $5.41 during trading on Wednesday, reaching $471.35. 35,574,684 shares of the company’s stock were exchanged, compared to its average volume of 40,524,254. Invesco QQQ has a 1 year low of $342.35 and a 1 year high of $503.52. The company’s fifty day simple moving average is $474.72 and its 200-day simple moving average is $454.35.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, June 24th were paid a $0.7615 dividend. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, June 24th.

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.