Alley Investment Management Company LLC Acquires New Stake in Invesco QQQ $QQQ

Alley Investment Management Company LLC acquired a new stake in Invesco QQQ (NASDAQ:QQQ) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 370 shares of the exchange traded fund’s stock, valued at approximately $204,000.

Other institutional investors have also bought and sold shares of the company. Marshall & Sullivan Inc. WA purchased a new stake in shares of Invesco QQQ during the second quarter worth $41,000. Alpine Bank Wealth Management purchased a new stake in shares of Invesco QQQ during the first quarter worth $50,000. Westend Capital Management LLC purchased a new stake in shares of Invesco QQQ during the first quarter worth $51,000. Blume Capital Management Inc. lifted its position in shares of Invesco QQQ by 105.0% during the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC lifted its position in shares of Invesco QQQ by 3,000.0% during the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

NASDAQ:QQQ opened at $600.37 on Wednesday. The stock’s fifty day moving average price is $577.51 and its two-hundred day moving average price is $529.57. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $602.87.

Invesco QQQ Increases Dividend

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