Invesco QQQ $QQQ is King Wealth Management Group’s 2nd Largest Position

King Wealth Management Group grew its holdings in Invesco QQQ (NASDAQ:QQQ) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,740 shares of the exchange traded fund’s stock after purchasing an additional 287 shares during the quarter. Invesco QQQ comprises approximately 9.0% of King Wealth Management Group’s portfolio, making the stock its 2nd largest holding. King Wealth Management Group’s holdings in Invesco QQQ were worth $66,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GSG Advisors LLC grew its holdings in shares of Invesco QQQ by 8.2% during the 1st quarter. GSG Advisors LLC now owns 7,726 shares of the exchange traded fund’s stock worth $3,600,000 after purchasing an additional 585 shares during the period. Amundi raised its holdings in Invesco QQQ by 6.3% in the 1st quarter. Amundi now owns 110,903 shares of the exchange traded fund’s stock valued at $49,980,000 after buying an additional 6,600 shares during the period. Greykasell Wealth Strategies Inc. lifted its position in Invesco QQQ by 8.4% in the first quarter. Greykasell Wealth Strategies Inc. now owns 7,782 shares of the exchange traded fund’s stock valued at $3,649,000 after buying an additional 605 shares during the last quarter. AM Investment Strategies LLC boosted its stake in Invesco QQQ by 46.5% during the first quarter. AM Investment Strategies LLC now owns 1,927 shares of the exchange traded fund’s stock worth $904,000 after buying an additional 612 shares during the period. Finally, Banco Santander S.A. increased its position in shares of Invesco QQQ by 100.2% during the first quarter. Banco Santander S.A. now owns 75,125 shares of the exchange traded fund’s stock valued at $35,228,000 after acquiring an additional 37,605 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Performance

Shares of QQQ stock opened at $608.40 on Friday. The firm’s 50 day moving average price is $605.20 and its 200-day moving average price is $563.62. Invesco QQQ has a one year low of $402.39 and a one year high of $637.01.

Invesco QQQ Increases Dividend

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