Steel Grove Capital Advisors LLC Has $144.64 Million Stock Position in Invesco QQQ $QQQ

Steel Grove Capital Advisors LLC lifted its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 262,200 shares of the exchange traded fund’s stock after acquiring an additional 4,338 shares during the period. Invesco QQQ makes up about 16.9% of Steel Grove Capital Advisors LLC’s holdings, making the stock its 2nd largest holding. Steel Grove Capital Advisors LLC’s holdings in Invesco QQQ were worth $144,640,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in QQQ. Morgan Dempsey Capital Management LLC acquired a new position in shares of Invesco QQQ during the 2nd quarter worth about $30,000. Marshall & Sullivan Inc. WA acquired a new position in Invesco QQQ in the 2nd quarter valued at approximately $41,000. Alpine Bank Wealth Management acquired a new position in Invesco QQQ in the 1st quarter valued at approximately $50,000. Westend Capital Management LLC acquired a new position in Invesco QQQ in the 1st quarter valued at approximately $51,000. Finally, Blume Capital Management Inc. raised its holdings in 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 in the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Price Performance

Shares of QQQ opened at $611.38 on Wednesday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $613.18. The stock has a 50 day simple moving average of $588.70 and a 200-day simple moving average of $543.16.

Invesco QQQ Increases Dividend

The business also recently announced 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. 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 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.