Aries Wealth Management Grows Stake in Invesco QQQ $QQQ

Aries Wealth Management boosted its position in shares of Invesco QQQ (NASDAQ:QQQ) by 6.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,511 shares of the exchange traded fund’s stock after buying an additional 208 shares during the period. Aries Wealth Management’s holdings in Invesco QQQ were worth $1,937,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ during the 2nd quarter worth $41,000. Alpine Bank Wealth Management purchased a new position in shares of Invesco QQQ in the 1st quarter valued at $50,000. Westend Capital Management LLC purchased a new position in shares of Invesco QQQ in the 1st quarter valued at $51,000. Blume Capital Management Inc. increased its holdings in shares of Invesco QQQ by 105.0% in the 1st 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 during the period. Finally, Atlantic Private Wealth LLC increased its holdings in shares of Invesco QQQ by 3,000.0% in the 1st 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 during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Trading Down 0.7%

Shares of NASDAQ:QQQ opened at $598.00 on Wednesday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $613.18. The business’s fifty day simple moving average is $585.40 and its 200-day simple moving average is $538.03.

Invesco QQQ Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be issued a $0.694 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59.

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.