Adell Harriman & Carpenter Inc. Boosts Holdings in Invesco QQQ $QQQ

Adell Harriman & Carpenter Inc. raised its holdings in Invesco QQQ (NASDAQ:QQQ) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 774 shares of the exchange traded fund’s stock after purchasing an additional 45 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Invesco QQQ were worth $427,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in QQQ. Morgan Dempsey Capital Management LLC purchased a new stake in Invesco QQQ in the second quarter valued at $30,000. Marshall & Sullivan Inc. WA purchased a new stake in Invesco QQQ in the second quarter valued at $41,000. Blume Capital Management Inc. boosted its holdings in Invesco QQQ by 105.0% in the first quarter. Blume Capital Management Inc. now owns 121 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 2,536 shares during the last quarter. Moser Wealth Advisors LLC boosted its stake in shares of Invesco QQQ by 930.0% during the 2nd quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock worth $57,000 after acquiring an additional 93 shares in the last quarter. Finally, Atlantic Private Wealth LLC boosted its stake in shares of 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 acquiring an additional 120 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Price Performance

QQQ stock opened at $626.05 on Friday. The company’s 50-day simple moving average is $595.56 and its 200-day simple moving average is $551.96. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $637.01.

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 dividend of $0.694 per share. This represents a $2.78 annualized dividend and a dividend yield of 0.4%. 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.

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.