Mullooly Asset Management Inc. Has $11.65 Million Stock Position in Invesco QQQ $QQQ

Mullooly Asset Management Inc. lowered its position in shares of Invesco QQQ (NASDAQ:QQQ) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 21,108 shares of the exchange traded fund’s stock after selling 43 shares during the quarter. Invesco QQQ comprises approximately 4.9% of Mullooly Asset Management Inc.’s investment portfolio, making the stock its 10th largest position. Mullooly Asset Management Inc.’s holdings in Invesco QQQ were worth $11,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in QQQ. Marshall & Sullivan Inc. WA bought a new stake in shares of Invesco QQQ during the second quarter valued at approximately $41,000. Alpine Bank Wealth Management bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $50,000. Westend Capital Management LLC bought a new stake in shares of Invesco QQQ during the first quarter valued at approximately $51,000. Blume Capital Management Inc. increased its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC increased its position in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Down 0.1%

NASDAQ:QQQ opened at $610.70 on Friday. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $611.75. The company has a 50 day simple moving average of $583.17 and a two-hundred day simple moving average of $535.28.

Invesco QQQ Increases Dividend

The business also recently announced 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. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. 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%.

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.