Avondale Wealth Management Purchases 1,888 Shares of Invesco QQQ $QQQ

Avondale Wealth Management increased its position in shares of Invesco QQQ (NASDAQ:QQQ) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,668 shares of the exchange traded fund’s stock after acquiring an additional 1,888 shares during the period. Invesco QQQ comprises 10.4% of Avondale Wealth Management’s investment portfolio, making the stock its 2nd biggest position. Avondale Wealth Management’s holdings in Invesco QQQ were worth $18,573,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Compass Financial Services Inc lifted its stake in Invesco QQQ by 0.4% during the 1st quarter. Compass Financial Services Inc now owns 5,001 shares of the exchange traded fund’s stock worth $2,345,000 after acquiring an additional 19 shares in the last quarter. Vermillion Wealth Management Inc. lifted its stake in Invesco QQQ by 4.2% during the 2nd quarter. Vermillion Wealth Management Inc. now owns 491 shares of the exchange traded fund’s stock worth $271,000 after acquiring an additional 20 shares in the last quarter. MTM Investment Management LLC lifted its stake in Invesco QQQ by 1.6% during the 1st quarter. MTM Investment Management LLC now owns 1,297 shares of the exchange traded fund’s stock worth $613,000 after acquiring an additional 21 shares in the last quarter. Cutler Investment Counsel LLC lifted its stake in Invesco QQQ by 1.4% during the 1st quarter. Cutler Investment Counsel LLC now owns 1,513 shares of the exchange traded fund’s stock worth $710,000 after acquiring an additional 21 shares in the last quarter. Finally, Occidental Asset Management LLC lifted its stake in Invesco QQQ by 1.7% during the 2nd quarter. Occidental Asset Management LLC now owns 1,230 shares of the exchange traded fund’s stock worth $678,000 after acquiring an additional 21 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.5%

QQQ stock opened at $598.73 on Tuesday. The business’s 50-day moving average is $576.73 and its two-hundred day moving average is $529.07. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $602.87.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 22nd will be given a $0.694 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%. This is an increase 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.