GSB Wealth Management LLC Raises Stake in Invesco QQQ (NASDAQ:QQQ)

GSB Wealth Management LLC lifted its stake in Invesco QQQ (NASDAQ:QQQ) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,119 shares of the exchange traded fund’s stock after purchasing an additional 467 shares during the period. Invesco QQQ comprises about 1.2% of GSB Wealth Management LLC’s investment portfolio, making the stock its 17th largest position. GSB Wealth Management LLC’s holdings in Invesco QQQ were worth $4,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Colorado Capital Management Inc. increased its stake in shares of Invesco QQQ by 3.6% during the first quarter. Colorado Capital Management Inc. now owns 3,488 shares of the exchange traded fund’s stock valued at $1,636,000 after buying an additional 121 shares during the period. Optivise Advisory Services LLC grew its holdings in Invesco QQQ by 2.0% during the 1st quarter. Optivise Advisory Services LLC now owns 3,412 shares of the exchange traded fund’s stock worth $1,600,000 after acquiring an additional 67 shares in the last quarter. Rakuten Securities Inc. increased its position in Invesco QQQ by 32.8% during the 1st quarter. Rakuten Securities Inc. now owns 9,121 shares of the exchange traded fund’s stock valued at $4,277,000 after purchasing an additional 2,255 shares during the period. Insigneo Advisory Services LLC increased its position in Invesco QQQ by 15.5% during the 1st quarter. Insigneo Advisory Services LLC now owns 36,485 shares of the exchange traded fund’s stock valued at $17,109,000 after purchasing an additional 4,908 shares during the period. Finally, Pacific Capital Wealth Advisors Inc. raised its holdings in shares of Invesco QQQ by 3.7% in the 1st quarter. Pacific Capital Wealth Advisors Inc. now owns 73,802 shares of the exchange traded fund’s stock valued at $34,607,000 after purchasing an additional 2,612 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Down 1.0%

NASDAQ QQQ opened at $529.08 on Wednesday. The firm’s 50 day moving average price is $496.20 and its 200-day moving average price is $503.08. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $540.81.

Invesco QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 24th were paid a dividend of $0.7157 per share. The ex-dividend date was Monday, March 24th.

Invesco QQQ Company 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.