Patten & Patten Inc. TN Boosts Holdings in Invesco QQQ $QQQ

Patten & Patten Inc. TN grew its position in Invesco QQQ (NASDAQ:QQQ) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,350 shares of the exchange traded fund’s stock after buying an additional 339 shares during the period. Patten & Patten Inc. TN’s holdings in Invesco QQQ were worth $2,400,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its stake in shares of 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 valued at $37,299,340,000 after buying an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Invesco QQQ by 959.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock valued at $11,300,023,000 after buying an additional 21,823,765 shares during the period. Mullooly Asset Management Inc. purchased a new stake in shares of Invesco QQQ in the 1st quarter valued at approximately $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Invesco QQQ by 1.7% in the 1st 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 buying an additional 52,234 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Invesco QQQ by 2.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 2,480,244 shares of the exchange traded fund’s stock worth $1,163,036,000 after purchasing an additional 54,944 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Up 0.7%

NASDAQ:QQQ opened at $602.22 on Thursday. The company has a 50 day moving average price of $586.10 and a 200 day moving average price of $538.48. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $613.18.

Invesco QQQ Increases Dividend

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

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.