Smith Salley Wealth Management Purchases 1,262 Shares of Invesco QQQ $QQQ

Smith Salley Wealth Management boosted its position in Invesco QQQ (NASDAQ:QQQ) by 38.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,533 shares of the exchange traded fund’s stock after purchasing an additional 1,262 shares during the quarter. Smith Salley Wealth Management’s holdings in Invesco QQQ were worth $2,500,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. City Holding Co. boosted its stake in Invesco QQQ by 13.4% in the 2nd quarter. City Holding Co. now owns 10,351 shares of the exchange traded fund’s stock valued at $5,710,000 after purchasing an additional 1,226 shares during the period. Symmetry Partners LLC lifted its position in shares of Invesco QQQ by 6.0% during the 2nd quarter. Symmetry Partners LLC now owns 1,533 shares of the exchange traded fund’s stock valued at $846,000 after acquiring an additional 87 shares during the period. Grandview Asset Management LLC lifted its position in shares of Invesco QQQ by 0.6% during the 2nd quarter. Grandview Asset Management LLC now owns 26,330 shares of the exchange traded fund’s stock valued at $14,525,000 after acquiring an additional 159 shares during the period. Beacon Capital Management LLC lifted its position in shares of Invesco QQQ by 1.7% during the 2nd quarter. Beacon Capital Management LLC now owns 128,045 shares of the exchange traded fund’s stock valued at $70,635,000 after acquiring an additional 2,139 shares during the period. Finally, Patton Albertson Miller Group LLC lifted its position in shares of Invesco QQQ by 6.9% during the 2nd quarter. Patton Albertson Miller Group LLC now owns 1,800 shares of the exchange traded fund’s stock valued at $993,000 after acquiring an additional 116 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Trading Up 0.4%

NASDAQ:QQQ opened at $595.97 on Monday. The stock has a fifty day moving average price of $576.04 and a 200-day moving average price of $528.24. Invesco QQQ has a fifty-two week low of $402.39 and a fifty-two week high of $602.87.

Invesco QQQ Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 22nd will be given a dividend of $0.694 per share. 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 positive change 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.