Invesco QQQ $QQQ Shares Bought by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC raised its stake in shares of Invesco QQQ (NASDAQ:QQQ) by 13.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 953 shares of the exchange traded fund’s stock after purchasing an additional 110 shares during the period. Redwood Wealth Management Group LLC’s holdings in Invesco QQQ were worth $526,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QQQ. Morgan Dempsey Capital Management LLC purchased a new position in Invesco QQQ during the second quarter valued at $30,000. Marshall & Sullivan Inc. WA purchased a new position in Invesco QQQ during the second quarter valued at $41,000. Blume Capital Management Inc. lifted its holdings in Invesco QQQ by 105.0% during 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 in the last quarter. Moser Wealth Advisors LLC lifted its holdings in Invesco QQQ by 930.0% during the second quarter. Moser Wealth Advisors LLC now owns 103 shares of the exchange traded fund’s stock valued at $57,000 after purchasing an additional 93 shares in the last quarter. Finally, Atlantic Private Wealth LLC lifted its holdings in 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 valued at $58,000 after purchasing an additional 120 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Stock Up 0.5%

QQQ opened at $629.07 on Friday. Invesco QQQ has a 52-week low of $402.39 and a 52-week high of $637.01. The firm’s fifty day simple moving average is $596.70 and its two-hundred day simple moving average is $553.82.

Invesco QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, September 22nd were paid a $0.694 dividend. 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 0.4%. The ex-dividend date of this dividend was Monday, September 22nd.

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.