Pitti Group Wealth Management LLC Buys 32 Shares of Invesco QQQ $QQQ

Pitti Group Wealth Management LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,318 shares of the exchange traded fund’s stock after purchasing an additional 32 shares during the period. Pitti Group Wealth Management LLC’s holdings in Invesco QQQ were worth $727,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its stake in shares of Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock worth $37,299,340,000 after acquiring an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Invesco QQQ by 959.6% during 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 purchasing an additional 21,823,765 shares during the last quarter. Mullooly Asset Management Inc. purchased a new stake in Invesco QQQ during the first quarter valued at about $2,775,904,000. Northwestern Mutual Wealth Management Co. boosted 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 purchasing an additional 52,234 shares during the period. Finally, Commonwealth Equity Services LLC boosted 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 purchasing an additional 54,944 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $596.10 on Thursday. The company’s 50 day moving average is $574.71 and its 200-day moving average is $525.78. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $602.87.

Invesco QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be issued 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 of this dividend is Monday, September 22nd. 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.