Mayflower Financial Advisors LLC Raises Holdings in Invesco QQQ $QQQ

Mayflower Financial Advisors LLC increased its holdings in Invesco QQQ (NASDAQ:QQQ) by 17.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,017 shares of the exchange traded fund’s stock after purchasing an additional 895 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Invesco QQQ were worth $3,319,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Invesco QQQ by 15.0% during the fourth quarter. Brighton Jones LLC now owns 38,348 shares of the exchange traded fund’s stock worth $19,605,000 after buying an additional 4,989 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Invesco QQQ by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,257 shares of the exchange traded fund’s stock worth $2,687,000 after buying an additional 176 shares during the period. Wealth Group Ltd. boosted its position in shares of Invesco QQQ by 305.2% during the first quarter. Wealth Group Ltd. now owns 6,419 shares of the exchange traded fund’s stock worth $3,010,000 after buying an additional 4,835 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Invesco QQQ by 7.3% during the first quarter. Golden State Wealth Management LLC now owns 32,742 shares of the exchange traded fund’s stock worth $15,353,000 after buying an additional 2,241 shares during the period. Finally, WASHINGTON TRUST Co boosted its position in shares of Invesco QQQ by 24.1% during the first quarter. WASHINGTON TRUST Co now owns 856 shares of the exchange traded fund’s stock worth $401,000 after buying an additional 166 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Invesco QQQ Stock Performance

QQQ opened at $632.92 on Wednesday. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $634.68. The business has a fifty day simple moving average of $592.90 and a 200-day simple moving average of $550.17.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 22nd will be issued a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 0.4%. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, September 22nd.

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.