RMG Wealth Management LLC Invests $156,000 in Invesco QQQ $QQQ

RMG Wealth Management LLC purchased a new position in Invesco QQQ (NASDAQ:QQQ) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 277 shares of the exchange traded fund’s stock, valued at approximately $156,000.

Other large investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its stake in Invesco QQQ by 704,593.7% in the second 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 purchasing an additional 67,605,770 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 valued at $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 in the 1st quarter worth about $2,775,904,000. Spear Holdings RSC Ltd bought a new position in shares of Invesco QQQ in the 1st quarter worth about $474,600,000. Finally, Altimeter Capital Management LP purchased a new position in Invesco QQQ during the 1st quarter valued at about $463,293,000. 44.58% of the stock is owned by institutional investors.

Invesco QQQ Price Performance

NASDAQ:QQQ opened at $604.51 on Wednesday. Invesco QQQ has a one year low of $402.39 and a one year high of $609.71. The company’s 50-day simple moving average is $581.39 and its 200 day simple moving average is $533.92.

Invesco QQQ Increases Dividend

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

Invesco QQQ Company 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.