Kondo Wealth Advisors Inc. Boosts Stock Position in Invesco QQQ $QQQ

Kondo Wealth Advisors Inc. increased its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 11.1% in the second quarter, HoldingsChannel reports. The firm owned 874 shares of the exchange traded fund’s stock after buying an additional 87 shares during the quarter. Kondo Wealth Advisors Inc.’s holdings in Invesco QQQ were worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ during the 2nd quarter worth about $41,000. Alpine Bank Wealth Management purchased a new stake in Invesco QQQ during the 1st quarter worth about $50,000. Westend Capital Management LLC purchased a new stake in Invesco QQQ during the 1st quarter worth about $51,000. Blume Capital Management Inc. increased its position in Invesco QQQ by 105.0% during the 1st quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock worth $57,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Atlantic Private Wealth LLC increased its position in Invesco QQQ by 3,000.0% during the 1st quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Trading Up 0.7%

Invesco QQQ stock opened at $603.93 on Friday. The stock has a 50-day moving average price of $587.30 and a 200 day moving average price of $540.28. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $613.18.

Invesco QQQ Increases Dividend

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

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.