Clarus Wealth Advisors grew its position in shares of Invesco QQQ Trust (NASDAQ:QQQ) by 71.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,103 shares of the exchange traded fund’s stock after buying an additional 3,786 shares during the period. Invesco QQQ Trust accounts for 2.0% of Clarus Wealth Advisors’ investment portfolio, making the stock its 11th largest position. Clarus Wealth Advisors’ holdings in Invesco QQQ Trust were worth $2,367,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of QQQ. Arrow Financial Corp purchased a new stake in Invesco QQQ Trust during the 1st quarter worth about $27,000. Howe & Rusling Inc. lifted its holdings in Invesco QQQ Trust by 3,080.0% during the 1st quarter. Howe & Rusling Inc. now owns 159 shares of the exchange traded fund’s stock worth $30,000 after purchasing an additional 154 shares in the last quarter. Engrave Wealth Partners LLC purchased a new stake in Invesco QQQ Trust during the 4th quarter worth about $31,000. Financial Advantage Inc. purchased a new stake in Invesco QQQ Trust during the 1st quarter worth about $31,000. Finally, Sanders Morris Harris LLC lifted its holdings in Invesco QQQ Trust by 50.2% during the 1st quarter. Sanders Morris Harris LLC now owns 191,063 shares of the exchange traded fund’s stock worth $36,000 after purchasing an additional 63,818 shares in the last quarter. 43.35% of the stock is currently owned by hedge funds and other institutional investors.
Separately, ValuEngine cut Invesco QQQ Trust from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd.
QQQ traded up $1.88 during trading on Thursday, reaching $261.87. 701,993 shares of the company were exchanged, compared to its average volume of 40,775,240. The company’s 50-day moving average is $239.97 and its two-hundred day moving average is $218.89. Invesco QQQ Trust has a 12-month low of $164.93 and a 12-month high of $260.88.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 23rd will be paid a $0.424 dividend. This is a positive change from Invesco QQQ Trust’s previous quarterly dividend of $0.39. This represents a $1.70 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Monday, June 22nd.
About Invesco QQQ Trust
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.
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