RMG Wealth Management LLC Takes Position in Invesco QQQ $QQQ

RMG Wealth Management LLC bought a new position in Invesco QQQ (NASDAQ:QQQ) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 277 shares of the exchange traded fund’s stock, valued at approximately $156,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meitav Investment House Ltd. lifted its stake in shares of Invesco QQQ by 2.4% in the 2nd quarter. Meitav Investment House Ltd. now owns 469,241 shares of the exchange traded fund’s stock valued at $258,831,000 after acquiring an additional 10,971 shares during the last quarter. Foresight Capital Management Advisors Inc. increased its stake in Invesco QQQ by 0.9% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 10,634 shares of the exchange traded fund’s stock worth $5,866,000 after purchasing an additional 91 shares during the period. Seamount Financial Group Inc. lifted its position in Invesco QQQ by 12.1% in the second quarter. Seamount Financial Group Inc. now owns 7,395 shares of the exchange traded fund’s stock valued at $4,079,000 after purchasing an additional 796 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Invesco QQQ during the second quarter valued at approximately $1,243,000. Finally, Next Level Wealth Planning LLC boosted its stake in shares of Invesco QQQ by 5.7% during the second quarter. Next Level Wealth Planning LLC now owns 595 shares of the exchange traded fund’s stock valued at $328,000 after purchasing an additional 32 shares during the period. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Stock Down 0.5%

Shares of NASDAQ QQQ opened at $604.51 on Wednesday. The firm’s fifty day moving average is $581.39 and its 200 day moving average is $533.92. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $609.71.

Invesco QQQ Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a dividend yield of 0.5%. This is a positive change from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, September 22nd.

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.