Independence Bank of Kentucky Boosts Stock Position in Invesco QQQ $QQQ

Independence Bank of Kentucky grew its position in Invesco QQQ (NASDAQ:QQQ) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,462 shares of the exchange traded fund’s stock after buying an additional 499 shares during the quarter. Independence Bank of Kentucky’s holdings in Invesco QQQ were worth $4,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its position in shares of Invesco QQQ by 704,593.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 67,615,365 shares of the exchange traded fund’s stock worth $37,299,340,000 after buying an additional 67,605,770 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Invesco QQQ by 959.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,097,975 shares of the exchange traded fund’s stock worth $11,300,023,000 after buying an additional 21,823,765 shares in the last quarter. Mullooly Asset Management Inc. bought a new position in shares of Invesco QQQ during the 1st quarter worth $2,775,904,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Invesco QQQ by 1.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,201,107 shares of the exchange traded fund’s stock worth $1,501,063,000 after buying an additional 52,234 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew 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 buying an additional 54,944 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

QQQ opened at $595.97 on Monday. Invesco QQQ has a 12-month low of $402.39 and a 12-month high of $602.87. The business’s fifty day simple moving average is $576.04 and its 200-day simple moving average is $528.24.

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. 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. This represents a $2.78 dividend on an annualized basis and a yield of 0.5%.

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.