Red Crane Wealth Management LLC Grows Stake in Invesco QQQ $QQQ

Red Crane Wealth Management LLC grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,316 shares of the exchange traded fund’s stock after buying an additional 409 shares during the quarter. Invesco QQQ makes up about 2.7% of Red Crane Wealth Management LLC’s investment portfolio, making the stock its 13th largest holding. Red Crane Wealth Management LLC’s holdings in Invesco QQQ were worth $2,933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Sloy Dahl & Holst LLC lifted its holdings in Invesco QQQ by 3.1% in the 2nd quarter. Sloy Dahl & Holst LLC now owns 674 shares of the exchange traded fund’s stock worth $372,000 after buying an additional 20 shares during the period. LifeWealth Investments LLC purchased a new stake in Invesco QQQ in the 2nd quarter worth approximately $330,000. Freedom Investment Management Inc. lifted its holdings in Invesco QQQ by 1.1% in the 2nd quarter. Freedom Investment Management Inc. now owns 3,173 shares of the exchange traded fund’s stock worth $1,750,000 after buying an additional 33 shares during the period. Forum Financial Management LP lifted its holdings in Invesco QQQ by 3.4% in the 2nd quarter. Forum Financial Management LP now owns 4,970 shares of the exchange traded fund’s stock worth $2,742,000 after buying an additional 165 shares during the period. Finally, Pacific Wealth Management purchased a new stake in Invesco QQQ in the 2nd quarter worth approximately $227,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

QQQ opened at $605.49 on Thursday. The business has a 50 day moving average of $589.20 and a 200-day moving average of $543.59. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $613.18.

Invesco QQQ Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be paid a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd. This is a boost 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.