Gainplan LLC Invests $38.85 Million in Invesco QQQ $QQQ

Gainplan LLC acquired a new position in shares of Invesco QQQ (NASDAQ:QQQ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 70,432 shares of the exchange traded fund’s stock, valued at approximately $38,853,000. Invesco QQQ accounts for about 17.6% of Gainplan LLC’s investment portfolio, making the stock its 2nd biggest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QQQ. Marshall & Sullivan Inc. WA bought a new stake in Invesco QQQ in the second quarter valued at about $41,000. Alpine Bank Wealth Management bought a new stake in Invesco QQQ in the first quarter valued at about $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ in the first quarter valued at about $51,000. Blume Capital Management Inc. increased its stake 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 acquiring an additional 2,536 shares during the period. Finally, Atlantic Private Wealth LLC increased its stake in Invesco QQQ by 3,000.0% in the first quarter. Atlantic Private Wealth LLC now owns 124 shares of the exchange traded fund’s stock valued at $58,000 after acquiring an additional 120 shares during the period. Institutional investors own 44.58% of the company’s stock.

Invesco QQQ Price Performance

NASDAQ QQQ opened at $611.44 on Thursday. The company’s 50-day simple moving average is $582.26 and its 200 day simple moving average is $534.45. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $611.75.

Invesco QQQ Increases Dividend

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

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.