Wealth Effects LLC Has $1.49 Million Holdings in Invesco QQQ $QQQ

Wealth Effects LLC lessened its holdings in shares of Invesco QQQ (NASDAQ:QQQ) by 0.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,702 shares of the exchange traded fund’s stock after selling 20 shares during the period. Wealth Effects LLC’s holdings in Invesco QQQ were worth $1,490,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Kingstone Capital Partners Texas LLC lifted its position in Invesco QQQ by 704,593.7% in 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 buying an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 worth $11,300,023,000 after acquiring an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. acquired a new stake in Invesco QQQ during the first quarter valued at $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 valued at $1,501,063,000 after purchasing an additional 52,234 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Invesco QQQ by 2.3% in the first quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock valued at $1,163,036,000 after purchasing an additional 54,944 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Down 0.4%

Shares of QQQ stock opened at $596.10 on Thursday. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $602.87. The stock’s 50-day moving average is $574.71 and its two-hundred day moving average is $525.78.

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 paid a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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.